Tuesday, November 25, 2014

Homes for Sale in Redondo Beach CA: MLS Search

Are you looking for a home to buy in North Redondo Beach CA 90278? You can use this map based MLS search to see current active listings including attached and detached 2 and 3 on a lot Townhomes, Tall & Skinny SFRS, starters, fixers, mansions and anything else you can think of in 90278 including Golden Hills, TRW Tract, "Jefferson" and El Nido.

Scroll over any icon for more info and then click for details. You can also choose "view all" in the lower left of the screen.

Here's some "quick links to other MLS Searches:


Don't see anything that interests you? Contact me for off market and pocket listings. I have them, really.

Monday, November 24, 2014

Redondo Beach Homes for Sale Facebook Real Estate Listings

If you like the information you find on this site, you may also want to check out my Facebook "business page" Socalistings (one "l"). You can look it up directly or just go to Facebook.com/Socalistings. I'm already at over 400 "likes" so what are you waiting for?

In addition to the Redondo Beach Real Estate updates and market data and statistics on this site, you will find information and links to other South Bay and Beach Cities related real estate sites including Manhattan Beach, Hermosa Beach, South Redondo Beach, Torrance, and more. There's also some special offers special offers, and a general over view of what I'm up to, ie finding a great home for my clients or helping them sell their existing home for top dollar.

For those who have asked, yes it does feel like the market has slowed down the last few weeks and the brakes are on price acceleration. But there's still plenty of activity going on. Here's some tips I can share with you.

If you are selling right now, chances are that your home will look and show great with all the Holiday decorations. Also, any buyers in the market right now and not going out of town or to the various sales are probably pretty serious about their home shopping.

If you are a buyer and in the market right now, this is the time of year when historically I have found some great buyer deals in the past. For one thing, you'll have less competition. For another, there are sellers who just want to be make the deal before the end of the year.

Thursday, November 20, 2014

Redondo Beach Broker's Open Houses, New Listings, Pendings and Sales

So as we wind down 2014, sales activity in North Redondo Beach is relatively mundane and uninspiring. In fact, on the Broker's Open House tour today I found more properties that were interesting in South Redondo Beach than North Redondo. But that's a story for another post.

Over the last 7 days, there have been 11 new listings (including one churn), primarily in MLS Area 151-152 in 90278. During the same time period, 9 properties have gone into escrow and 5 have closed escrow. This leaves us with 56 available active listings and 54 in escrow.

I'm now more inclined to look at the absorption rate as a comparison between properties in escrow vs those that are active rather than those that have sold (as I have been doing). Here's why.

Properties taken off the market because an offer have been accepted may be a better indication of both flow and demand than closed escrows. Escrows can not close for any number of reasons such as appraisal, financing, inspections, seller contingencies etc which do not reflect true market demand.

Based on the above, we can then say that there's about 1 month of available inventory and close to 100% absorption rate.

A few interesting transactions I noticed. Amir Amiri is listing and/or buying a few properties in the TRW tract and MLS area 151. The tax records show the current owners of 2005 Robinson St and 1913 Plant Av as Amiricorp. What I find interesting is that based on the list price, these are rather high prices for lots compared to what builders have paid in the past. Throw into this a little bit of rumor mill that another broker mentioned to me that he though he saw Amir (actual) himself at a new listing at 2109 Morgan which is an R2 lot priced at $849K. On the surface, that would appear to me to be too much for a builder to pay.

So if lot prices are going up, that only means that new construction can only be going up which can only mean one thing: all prices will be on the rise. Eventually.

Speaking of builders, one of the more interesting new listings is 2406 Green Lane (pictured above) which is a 3200 sq ft SFR on a 4993 sq ft lot with 5 bedrooms 4 bathrooms. The tax records indicate that the property is owned by Craig Casner but the listing agent makes no mention of Casner Construction in the MLS description. I don't quite get that because Casner is the best builder around (sorry Amir and others) and I've always been able to get a premium on his resale homes.

Green is priced at $1,529,000 which is, how shall I say this, a big number for North Redondo Beach Real Estate. A really big number. I'm not saying the house isn't worth it, just that we'd have to go back almost a year, to December 2013 to find a North Redondo Beach Sale over $1.5M. That house was also new construction (Amir Amiri) at 2106 Belmont Lane and per some agent remarks in the MLS did not appraise. After that, the next high was $1.425M for 2100 Speyer Lane which just recently closed.

Which might make some of the more recent transactions that are catching my attention make a lot more sense. Here's the thing with land. They aren't making any more of it!

Saturday, November 15, 2014

Homes for Sale in North Redondo Beach: Why Haven't these Listings Sold?

With so many buyers lamenting the "lack of inventory", I'm always rather surprised when some listings that are priced right and offer good value haven't sold. There's a few of those out there now.

Views as far as the eye can see in North Redondo Beach
The first one on my list today is a very Tall and Skinny SFR located at 1605 Ripley Ave just north of 190th in North Redondo 90278. It initially came out at $1,189,000 and has been subsequently reduced to $1,089,000. The property is a 2146 square foot 4 bedroom single family house on an almost 3000 square foot lot. But unlike most other North Redondo Beach homes, this one has views, views, and views including PV, downtown LA and the ocean which is extremely rare for the neighborhood. The house borders Hermosa Beach and if it was moved just across the border it would be getting multiple offers and a bidding war at this price. It's on a private cul-de-sac and is within (reasonable) walking distance of the beach although getting back up that hill is a lot easier than heading down.

The house was built in 2001 but has recently had a number of updates including paint, refinished wood floors, new front door, new carpet and more. There's a huge gourmet kitchen with a center island and granite countertops. Throw in the usual vaulted ceilings, recessed lighting, skylights, etc.

The next one on my list isn't quite as sleek and sexy but I think 1736 Spreckels Lane  is a good value at the MLS list price of $779,000 Two reasons why: Golden Hills and SFR. I'm seeing resale 3 on a  lot townhomes creep into this price range now this has the added benefit of move in ready AND Jefferson Elementary. There are 3 bedrooms, 2 baths, and the house is 1558 sq ft on your standard 2500 sq ft Golden Hills lot.

The property was recently updated with a new kitchen and the wall was opened up for a more contemporary feel. Admittedly this floorplan is somewhat dated (even though I've always liked it). The drawbacks are that there is only one bath upstairs and there isn't much room to expand or remodel it. On the other hand there are 3 bedrooms upstairs and a small space for a home office. Plus a deck over the (1 car) garage.

C'mon buyers, it's time to think out of the box and not follow the crowd. These are 2 great listings!

Thursday, November 13, 2014

Still a Seller's Market in North Redondo Beach CA

A number of my buyer clients have recently remarked that it feels as if things are slowing down. Usually that means something different to me as a Real Estate Agent than it might to either a buyer or seller.

For buyers they may be expressing a feeling that they are not seeing as many new MLS listings hitting the market as they were previously, or there are fewer open houses, or price reductions, etc.

For me, as a full time Realtor, it may mean there are fewer closings, less calls from buyers and sellers, etc. And it does feel like things are slowing down even though personally I have been very busy.

That's why in business its best to rely on data and facts and leave the feelings out. Let's look at the data.

As of this blog post there are 52 active MLS listings in North Redondo Beach CA 90278. There are 50 properties "in escrow" (MLS status pending or backup) and 47 homes closed escrow during October (48 the past 30 calendar days).

We are back to where we were in the beginning of the year re months of inventory based in closed sales. Here's an interesting data point: there were 57 homes sold during in 90278 March, 52 in April, 43 in May, 41 in June and 50 in July. So during the frenzy of May and June which are supposedly the busiest months, sales actually slowed. It was slower than than it is now - that's why there were more properties to look at, more open houses, etc. Funny how that works sometimes.

If you find these "Real Estate Market Updates" useful,  please visit my other Beach Cities Real Estate websites 90254realestate.com for Hermosa Beach and www.90266realestate.com for Manhattan Beach CA.

Wednesday, November 5, 2014

Ellis Posner Sells Redondo Beach Real Estate

There were 47 closed sales in North Redondo Beach CA during October. Four of those were my listings and I also represented one buyer.

90278 Real Estate Agent Ellis Posner Selles North Redondo Beach
Selling prices in 90278 ranged from $360,000 up to $1,425,000. My sales were priced from $649,000 up to $1,079,000 with an average sales price of $812,750 compared to $782,461 as the average for the market for the month.

One of my sales, 2117 Huntington Lane Unit A, was a 4 bedroom 2750 sq ft attached townhouse that sold for $1,079,000 at the high end of North Redondo Beach home prices. I also sold an attached rear unit 3 on a lot 4 bedroom townhouse at 2411 Carnegie Lane Unit C for $808,000 which is at the higher end of resale attached townhomes. Both units were built 2005-2007 by Casner Construction proving that an investment in higher end building holds value. Both properties were maintained in excellent like new condition.

Two of my four sales were "off market" even though I put them in the MLS as "comps" (ie to boost my stats). Three of my four sales sold at or above the MLS list price and 3 out of 4 sold in 30 days or less. Three of the sales were townhomes and one was a SFR in the TRW Tract on an over 8,000 sq ft lot.

Three of my sellers were able to get a FREE leaseback after the close of escrow to help accommodate their moves.

Of the 47 homes sold in North Redondo Beach during October 19 were Single Family Residences (SFR) and the balance, 28 properties, were townhomes which as you know technically are "condominiums".

Through the end of October 417 properties were sold during 2014. So the pace of sales picked up from an average of 41 per month to 47, a very healthy sign.

Last year there were 511 sales in North Redondo Beach. From where we sit at the beginning of November there would have to be another 94 sales in the final two months to match last year's pace. That would be on average 47 (that number again) home sales per month. And guess what, as of this blog post there are 47 homes in escrow (MLS status "backup" or "pending'). There are another 53 homes currently listed for sale in the MLS. And who know how many "off market" transactions and pocket listings.

While it may feel to many buyers that sales are slowing down, not really. We're pretty much on the same pace as last year. Considering that homes are now selling for more than last year, all in all I consider the Redondo Beach housing market to be quite stable.

If you find these "Real Estate Market Updates" useful,  please visit my other Beach Cities Real Estate websites 90254realestate.com for Hermosa Beach and www.90266realestate.com for Manhattan Beach CA.

Tuesday, November 4, 2014

Listing a Home in Redondo Beach CA? Name your Selling Price

Are you thinking of listing and selling Real Estate in Redondo Beach CA? You probably have a price in mind already that you would sell for and I may even have a buyer already for you. Really. Two of my last 4 listings were sold "off market" to buyers I was working with.

If you want to spare yourself the hassle of open houses, high commissions, negotiating and do an off market sale for top dollar, go to ellisposner.nameyoursellingproce.com and fill out the required information and I'll let you know if I already have a buyer for your home.

Not sure how much your home is worth? Visit ellisposner.smarthomeprice.com to get started and then contact me to reviews the the results.

Sunday, November 2, 2014

50 Five Star Reviews on ZIllow: 27 Sales the Past 12 Months

I just hit a milestone I'm very proud of: 50 Five Star Reviews on Zillow. In fact Zillow even sent me a congratulatory email so it must be kind of a big deal. I also closed 27 transactions over the past 12 months, over half of which have been in Redondo Beach.

I just want to take this opportunity to say thank you to all of my clients who have been kind enough to publicly support me with their kind words and reviews on Zillow and Trulia. I know that when it is time to buy or sell Real Estate there are a lot of agents to choose from and it has been my privilege to be able to help so many wonderful families and individuals with their home purchase or listing in Redondo Beach CA.

Ellis Posner Recent Beach Cities Sales
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Tuesday, October 21, 2014

Redondo Beach Townhomes for Sale

Last weekend I spent some time with buyer clients viewing detached townhouses for sale in North Redondo Beach 90278. Nothing unusual about that because if I'm not doing an open house at one of my listings, chances are that I'm with buyers viewing other people's listings.

What is interesting, at least to me, is how fractured the market has become relative to absolutely inconsistent pricing and marketing of properties. Or, as I've been known to say, there's just enough data available to the public for buyers and sellers to become totally confused.

Let me start out with the 2 on a lots we saw and then I want to make some comments about 3 on a lots.

A property I really liked is 2206 Huntington Lane Unit A (pictured above). It is your standard detached late 80's floorplan with three bedrooms upstairs. There is both an eat in area in the kitchen and a dining room. I have seem this floor plan nicely remodeled with the kitchen opened up to the dining room creating an even greater open area. There are three decent sized bedroom upstairs and the master has a fireplace (in addition to the fireplace downstairs). This unit is in nice move in condition and faces south. It is priced 1917 sq ft and priced at $759,000 which seems reasonable out of the gate. But when I went back and looked at some comps, not so sure.

Here's why:

Recent 90278 3 Bedroom Townhouse Sales
These 3 bedrooms all sold in the last 120 days under the listing price of 2206 Huntington. Even the closest in price, 2209 Dufour, sold for about $15K less even though it is about 100 sq ft larger. Marshallfield has a different floorplan (but it is in Jefferson). 2019 Havemeyer is very similar to another detached 3 bedroom we viewed, 2225 Nelson which is listed at $690K and is in (in my humble opinion) absolutely trashed condition with a room addition that may or may not be permitted jutting into the backyard. Nelson is listed by an out of area agent and I just don't see non "Beach" agents getting the intricacies of our local pricing.

So where this gets confusing for the public is when you see attached 3 on a lots selling for higher than the detached 2's, or at least listed for more. A good example would be let's say 2222 Rockefeller Unit B (pictured) which is listed for $735K, It is a 3 bedrooms, 1792 s1 ft, middle unit. So more density, no yard (or terrace), but newer. In fact I can think of a number of 3 bedroom 3 on a lots that have sold for higher than these detached 2's (including some of my own sales).

I refer to this phenomenon as "price inversion". My phrase for when a property sells for more than what has historically been a comp. Or maybe I should say "ostensibly" is a comp.

Right now when comparing newer 3 on a lot 3 bedroom townhomes to older 2 on a lot 3 bedroom townhomes you have to factor in the cost of updates. On an approximately 2000 sq ft property you could easily spend $20K on (very) nice engineered hardwood floors. A full kitchen remodel can easily run another $30-50K. So to bring these older properties up to comparable condition to a home built after 2000 can easily be a $50,000 investment (or more).

For those buyers who think the market is slowing down, here's what's going on.

As of today, there are 55 North Redondo Beach listings but only 22 of them have been on the market for less than 30 days and only 9 new listings the last 7 calendar days. So far this month, there have been 18 closed escrows. I'm expecting a flurry of activity over the remaining 10 days this month including 4 of my own sales to close in North Redondo Beach but I would be very surprised if we got much over 50 sales this month meaning that we're still running at about a month or so of inventory. Unfortunately the absorption rate is somewhat misleading because as indicated above 60% of the listings are over 30 days old and 19 (34.5%) are over 60 days old.
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Monday, October 13, 2014

News and Updates Redondo Beach Real Estate: Week of 10.6.2014

How does 5-5-5 sound? That's the number of new listings, closings, and pendings this week in North Redondo Beach CA.  Ironically the number of expired, withdrawn, cancelled, and held listings was higher than the new listings: 8-5. What's going on?

As I've been writing about the last few posts, it seems that the market for home sales in North Redondo Beach is slowing as we head into the the winter holiday season. Also as I've mentioned before, things are not slow for me. I currently have 4 N Redondo Beach listings in escrow. Here's what is going on.

Many Sellers are still trying to push the prices up and Buyers are pushing back against any and all over pricing. In other words, business as usual.

This doesn't mean that if you have a home to sell with some unique features and amenities that you can't get top dollar. For example, I am selling a few Casner townhomes that are each unique in their own way and bringing top dollar for resales in this market. But not every property will get that response and as a seller you have to price your listing at or below the market and not "test the market".

Speaking of which there were also 3 price reductions which only means one thing - no takers at the previous price because it was either too high or there is something else wrong. As of today, 60 active MLS listings in N Redondo Beach, 59 in escrow but only 34 sold over the last 30 days. So, more or less we're creeping up to 2 months of inventory on hand. Do I hear more price reductions anyone?


Redondo Beach New MLS Listings Week of 10.6.2014

Interesting new entires between $600K and $930K. Probably the $799K price point is about right for 1980's Golden Hills Tall and Skinnies these days. The floor plan with only 2 bathrooms, ie the "master" is shared with guests on the second floor has been a tough sell as of late as has the first block in from Aviation of late. The other Golden Hills listing at 1608 Lomax I don't get at all for $849K even though it has been very nicely updated and you can walk to Jefferson. Views or not,  it is less than 1500 sq ft and only two baths. On a positive note, at least with a smaller footprint house you have a little larger back yard.

1805 Harriman Unit A is an older variation of my listing at 2117 Huntington: 2750 sq ft attached front unit 2 on a lot townhouse with 4 bedrooms. Harriman is just old enough that it needs updates (the gold hardware and trim in the bathrooms, white appliances in the kitchen). I think $899K would have been more accurate pricing even though it does have A/C which considering how hot it has been this October is a good thing!

SOLD WEEK OF 10.6.2014

So as previously mentioned, there were five closed sales last week. Okay, it was first week of the month but that would put us considerably off the yearly pace. The closed sales reflect the market 30-60 days ago and here's what we have:

These Redondo Beach listings closed escrow last week
1701 Morgan has been an interesting listing (other than the sideways picture). It started out too high. Way too high at $949K (with a 2%, less than standard, commission for the selling agent). Its your reverse floor plan Golden Hills 19080's Tall and Skinny with the extra half bath. Lowered to $849K, it sold.

2512 Spreckels is your typical "El Nido" 19050's 3/1/ SFR remodeled and went for $695K. Interesting pricing going on right now just north and south of 190th. If we put this house over in West Torrance it may have gone for $50K - $75K more more. 90503 has become one of the hottest zip codes in the South Bay for SFRs. Inventory is very low and multiple offers are common. Anyway back to Spreckels. Nicely remodeled and updated and listing by Nordine. You may know that name from when Leo was the REO king a few years ago but that market has dried up for sure.

Quick pricing guide.

Expect to pay low to mid $8's for a decent 1980's Golden Hills Tall and Skinny with some updates. New homes built in the '90s or this century can bring in the $9's and with any extra amenities, ie a loft or a 4th bedroom or standard floor plan, expect to pay high $9's or break $1M. That being said I totally don't get the Amir Amiri contemporaries on Clark.

Newer detached 4 bedroom 2 on a lots are selling low $9's to over $1M. Older properties mid to high $8's and about $850K is the new normal for attached remodeled units.

The 3 on a lot market is all over the place with 4 bedroom units being in high demand particularly if they are larger and newer. Of course everyone wants the "C" unit with the backyard. Recently I sold a  C Unit 4 bedroom for a little over $800K. Meanwhile older and smaller 3 bedrooms can sell in the $600's. Some newer B units are listed close to and over $700K. Good luck with those unless they have exceptional features or are very new.

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Monday, October 6, 2014

Housing Update North Redondo Beach CA: Inventory Rising, Sales Slowing

Redondo Beach CA Craftsman SFR
After the torrid pace that we saw earlier this year and during the spring and early summer, there's no doubt that sales activity is leveling off. Unfortunately, this is not helping buyers at all (at this point) as many sellers continue to over price their listings.

Currently there are 64 active MLS listings and 61 in escrow (MLS status backup or pending). Of the current active North Redondo Beahc litsings, 23 are Single Family Homes (SFR) with the balance being Townhomes and Condominiums. On average these homes have been on the market for 53 days and are listed at $785K.

During September 40 homes closed escrow in North Redondo Beach. Year to date including September 375 homes closed. At this rate we'll more or less end up with about the same number of closings as 2013 which was 511.

During September, the most expensive house that sold in North Redondo Beach was a 5 bedroom, 5 bath, 3675 SFR on a 10,000 sq ft lot with a pool at 2417 Ives in the El Nido neighborhood. (Pictured above.) This spectacular Craftsmen style SFR was built in 2000 and also featured a separate 1 bedroom guest house and a 3 car garage plus RV parking. It started out at $1,425,000 and eventually sold for $1,350,000. Merit Real Estate was the listing agent.

North Redondo Beach Million Dollar Home Sales 9.2014
Including 2417 Ives, there were 9 sales over $1M in N Redondo Beach. If I count the one that closed at $999K, then 25% of the North Redondo Beach sales were at $999,000 or over one million. That's fairly stupendous and should show where prices are headed at the beach. If I ratchet back to $899K, we're at 40% of the sales being at essentially $900K or more. We're talking about N Redondo and those are big numbers. So, still comparatively affordable but who knows for how long.

Exactly half of the properties, 20, sold for the asking price or higher. But those prices for the most part reflect the market 60 days ago and we may be entering a different cycle right now.

Of the 64 active Real Estate listings, 25 have already had price reductions. Of the 61 in escrow, 24 have had price reductions. So clearly many sellers are discovering that the only way to sell is to reduce the price first.

Curiously, or maybe not so, many price reductions occur at the lower or medium price points where sellers may be getting just a little too far ahead of the market a little too soon.  My best advice to anyone selling their home right now is to price right.

Golden Hills (MLS Area 154) continues to be hot with most Tall and Skinny SFRs finding new buyers relatively quickly. 1750 Dixon sold for $827,000 which I thought was a good deal after initially being listed for $808K which I think was too low. 1811 Goodman went for $839K. Kind of interesting pricing on these two. I think Dixon could have sold for a few dollars more if it started higher but probably Goodman started too high. Who knows.

1717 Morgan Lane which is just a little bit newer sold for a lot more: $900,000 after being listed for $920K which was definitely too high. That house is just a little bit newer but had new pipes, decks, roof and more. I can tell you that those upgrades are more extensive to do than you might think and time consuming as well.

All of these properties are your standard Tall and Skinny with the reverse floorplan (living upstairs, 2 beds down). Speaking of Tall and Skinny houses and pricing, the 2 Amir Amiri new construction units on Clark look like they are still sitting. If you recall, these are 4 bedrooms standard floor plans houses priced at $1,195,000 and $1,245,000. I'll be curious what the seller adjust the price to when it becomes apparent that people to not want to live next to Joe Kerby's auto repair. (Nothing against Joe mind you.)
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Sunday, September 28, 2014

Redondo Beach Real Estate: Top Agents are Listing and Selling Homes

Ellis Posner 3 on a lot listing Carnegie Lane
I've heard some buyers say that they think the market is slowing down. Well maybe, but not for me (thankfully) and lots of other active Redondo Beach Real Estate Agents. My four current Redondo Beach listings are in escrow and 3 of them sold either before they hit the MLS or within one week of being on the market. These were all great properties and my clients listened to my advice as to how to best present their homes for sale and how to price.

As for everyone else, well there were 11 new listings, down a little from the last few weeks, 12 pendings and 14 homes closed escrow. There's no doubt that inventory is creeping up but so are the price points. I have one 3 on a lot listing in escrow that will sell for slightly more than $800K (pictured) and a 2 on a lot  selling for over $1,000,000. In fact, one of the major surprises to me about recent sales is that we are now seeing consistent activity in million dollar plus homes in North Redondo Beach and those two thoughts were never in the same sentence previously.

Just in September alone there have been 9 closed sales in North Redondo Beach of homes above $1M with the highest being at $1.350M. Four of the sales have been detached townhouses and 5 are single family homes. Five of the sales are in MLS Area 151 North of Artesia Blvd, 3 in MLS Area 152 and one in Area 153 "El Nido". Three of the sales were five bedroom homes and 3 were over 3000 square feet. Six of the properties were built since 2000. So, you kind of see where this is going: newer, larger closer to Manhattan Beach, you are most likely really in the money.

North Redondo Beach Luxury Home Sales $1M Plus
What's driving this is that, as I have stated multiple times previously, North Redondo Beach has historically been one of the best values in coastal Los Angeles County. The combination of the proximity to jobs, freeways, beaches, and the (mostly) excellent schools, and other amenities make this a great choice for home buyers.

Speaking of price escalation, the 3 on a lot that I sold for over $800K is a newer, larger, Casner Construction, 4 bedroom which is what brought the premium price. For my fellow Redondo Beach Realtors, here's an observation and thought. With the recent price escalation I have definitely seen more West Side and closer to home Manhattan Beach agents being active in our neighborhood. Hopefully Buyers and Sellers recognize that we are still the local experts.

Do I hear $1.5M in North Redondo Beach anyone?

Redondo Beach High End Luxury Townhome for Sale - Listed by Ellis Posner
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