Redondo Beach Home Sales for August

During August 33 properties closed escrow in 90278 and 32 in 90277. One year ago, the respective numbers were 33 in North Redondo Beach and 38 in South Redondo. So, year over year, South Redondo Beach softened in terms of sales volume by about 17% while North Redondo stayed flat.

The July 2010 to August 2010 numbers present a slightly different picture. There were 42 home sales in North Redondo Beach and 21 in South Redondo which still puts us in that low 60 total number but with quite a bit more activity going on in 90278 than 90277. Let's look under the numbers a little bit more.

North Redondo Beach August 2010: 16 Single Family Residences, 15 Townhouses (8 detached, 7 attached), and 2 condos.

South Redondo Beach August 2010: 16 Single Family Residences, 11 Townhouses (3 detached, 8 attached), and 5 condos. (There will almost always be more condo sales in South Redondo Beach due to the sheer volume of units encompassed by The Village and Brookside Village.) None the less, SFRs represented about 50% of the sales volume in each zip code.

North Redondo Beach July 2010: 19 Single Family Residences, 23 Townhouses (9 detached, 14 attached), and no condos. (Please note - townhouse is not a legal description and almost all properties classified as townhouse are, in fact, condos.)

South Redondo Beach July 2010:  11 Single Family Residences, 6 Townhouses (2 detached, 4 attached), and 4 condos.

As a Redondo Beach home price trend, what you will find fairly consistently is that single family (detached) residences (SFR) tend to account for about 50% of the sales, there are more townhome sales in North Redondo and more MLS labeled "condo" sales in South Redondo. Of the townhomes, in general you will find a greater number of detached units in 90278 than 90277. This has mostly been a function of lot size, highest and best value, buyer preference and other local factors.

If you are interested in more specific information regarding a property you want to buy or sell, choose the "Market Snapshot" tab above and follow the directions to receive an interactive personal online report.

Are Home Prices Going Up or Down in Redondo Beach?

Whether you are buying or selling a townhouse, condo, or single family home in Redondo Beach, or just interested Real Estate and your home's value, most people want to know whether prices are going up or down, what the market activity is, and other other trends.

We want to tell you about a great, interactive, free, web based tool you can use that goes far beyond the typical CMA most Realtors offer: Market Snapshot.

Each report is personalized but charts current up to the minute market activity in Redondo Beach, including such data as sold homes, properties for sale, inventory counts and even days-on-market.

Obviously, there are many 'intangibles' behind this data, such as whether homes were fixed up or not, were they short sales or REOs, probate sales, special amenities, seller concessions etc, but we can provide that information for you separately upon request.

The power of this report is that it is interactive. You can customize the results you view and explore parameters such as community info, market info, asking vs sold price, days on market, time period of the report - from last week to 90 days ago, and much more. You can also schedule the frequency with which you receive updates amd even view your old reports. And, I think we mentioned that it is free.

Whatever your reason, this is a great tool. Click Here to get get started with you personalized Market Snapshot.

2413 Rockefeller Ln - Front Unit 3 on a lot REO

The listing agent describes this property as: Built in 2005. This front unit, three bedroom townhouse is built by Mark LaCharite Homes. Features include granite countertops, top of the line appliances, stone fireplace, beautiful hardwood floors, entertaining balcony, walk-in closets, large master bath etc. Property is completely custom built with no detail left behind. A must see!






Our take: this is a really nice REO. As you can see from the video, the finish work, floorplan, curb appeal, etc are all above par for a 3 on a lot. There are wood floors throughout, and a larger than standard great room on the second floor. The builder may have taken some space from the master bedroom to add to the family room but the master suite still offers a generous walk in closet as well as am ample master bath. At this listed price, we think it will sell quickly. It is listed for $609,000 which compares favorably with recent sales on Grant which is a much busier street.

Redondo Beach Short Sale Update - Closed Escrows in July

During July, 63 properties sold in 90277 and 90278. Of those, 8 were short sales. That's about 12-13% of the sales. Based on what we see in the pipeline as far as mortgage lates and NODs, we're expecting that number to soon be above 20% going forward. As everyone is expecting short sales to play a larger role in the market throughout the balance of 2010 and into 2011, we were curious as to whether the current sales represented particularly good value for the buyers and were worth the wait and other inconveniences associated with a short. Our conclusion is "sort of, sometimes".

Here's our take on some of the transactions:

2301 Pullman Lane - Big Thumbs Up for the Buyers. This one was a gorgeous 3000 sq ft corner lot detached townhouse that we remember showing as new construction! The listing agent described it as follows: This home offers 4 bedrooms & 4.5 bathrooms with 3,003 sf living (per Builder Data), 2 story town home. Unique open floor plan with all bedrooms located upstairs. Fabulous kitchen with granite counter tops, center island & breakfast bar; formal dining room off kitchen and family room. Distress hardwood, natural stone tile and wall-to-wall carpet. Formal family room, spiral staircase to second floor, leading to wonderful airy and breezy open floor plan. Each bedroom has its own private bath and balcony. Front yard and private back yard with a patio; three fireplaces; this is not your typical/average RB townhome We basically agree. It was initially listed at $899,000 but closed escrow at $865,000 146 days after it hit the market. We know it was well worth the wait for the buyers. We think that as a "standard sale" it may very well have sold closer to or possibly over $900K. Instant equity. Congratulations.

 2407 Grant Unit A: Kind of a deal, but not a steal. Initially hit the market at $575K which would have been a steal or a deal, take your pick. There must have either been multiple offers or possibly the BPOs came in higher because this one closed escrow at $610K after a 124 day wait. Meanwhile during that time, 2 other properties on the same block of Grant, same side of the street closed for as well. They were both also front units. 2419 Grant which was slightly smaller and older sold for $620K and the one right next door sold in the $680's (newer and larger than 2407). All in all a nice property described by the listing agent as: Beautiful French Chateau!!" This home has it all! First floor 10' ceiling & 8' solid doors. Full bath upstairs and downstairs, plus half bath in halway. Laundry room & a two car garage. Inviting entryway with slate flooring & dark distressed wood on the stair way & living area upstairs. Over size base boards & crown mouldings, casing around the widows. On the second floor formal dinning room, dream kitchen with slate flooring, solid granite tops, & stainless steel appliances. Living room with vaulted ceilings, beautiful dark distressed wood flooring fireplace (pre-wired for flat screen TV above & pre-wired for surround sound) sliding doors that lead to large deck that has the gas, electric & water hook ups. Master Bedroom with large master bath. Cat 5 wiring & pre-wired for computer networking. Close to shops, cafes, freeway, airport, beach, great schools & parks. A MUST SEE!

1716 Huntington Lane B: Not sure we would have waited for this one. Yes, it's big, but at $650,000 sales price (initially listed at $615K) and attached, we've seen detached, newer, properties a little further east in area 152. Under marker, but only slightly (although the location is excellent even if the condition isn't.) 


So, what do you think? Are these short sales deals and worth waiting for or would you rather avoid the delays and hassle and buy an equity property?


If you would like to see the current inventory of available pre-foreclosure and short sale properties in North and South Redondo Beach, click here.

if you want to buy a foreclosure in Redondo Beach...

There are currently 10 REOs for sale in Redondo Beach. Prices range from $359,900 to $799,900. (I have no idea why agents add the obligatory $900 to list prices.) We have a little bit of everything in the mix including some with actual ocean views! Four properties are in North Redondo and the remaining six are in South Redondo Beach. There are three SFRs and the rest are town homes or condos. Pricing seems right about FMV and in fact a few have already had reductions. This is probably due to the fact that BPOs that were obtained even 60 days ago reflected a far stronger market than what we are seeing today. None the less, there are some deals to be found in this list either for an investor or owner occupant. For more details on any of the listings CLICK HERE or just call 310 975 5139.

These are the ones we like for either value, location or potential.
 

2419 Fisk Ln 90278: Just Reduced 7/15 This wonderful bright and spacious town home has a formal dining room, family room with cozy fireplace, large kitchen, huge master bedroom with large bath and lots of closets. Large private patio off master bedroom. Lots of potential. is one block north of 190th and three blocks west of Inglewood Av. The inside needs updating and some painting - expect the usual REO greens, yellows and reds. Priced at $569,900.

718 S Catalina Av 90277: What can you say - west of PCH walk to Riviera Village or Redondo Pier for under $700K. Beautiful 3 Bedroom / 2.5 Bath unit with brand new carpet and paint throughout. Live steps from the beach in this spacious unit that features direct access parking with tons of room, raised dining area, fireplace in the living room, family room off the large kitchen and patio. Small complex located a block from the beach and close to shopping and dining. Priced at $689,900.

2218 Warfield Av 90278: Excellent location, four blocks from Manhattan Beach, walk to Polliwog Park or Trader Joe's. Easy freeway access, close to movie theaters, restaurants, and shopping. Four bedrooms upstairs, built in 2005. Considering that there is not a lot of new construction of these units going on in N Redondo right now, a pretty good 3-5 year investment. Priced at $799,900 but we'd like to see it closer to $775K. 


To search he entire foreclosure database CLICK HERE.

if you like "modern" at the beach, check these out...

New Construction. Contemporary townhome designed by architect, Pat Killen. 4 bedrooms, 4.5 bathrooms and approximately 2,976 square feet of living space. Features a gourmet kitchen with top-of-the-line appliances and bamboo granite, great room with fireplace, separate family room, master suite with fireplace and master bath with jetted tub and stand alone shower with waterfall feature. Spacious rooftop deck with beautiful views. Bamboo floors throughout and carpet in the bedrooms. Prime location just 2-blocks from the beach. 2 car garage with direct access. Call 310 975 5139 to view these anytime.

We have recently relaunched http://www.90278realestate.com/. The URL and much of the content is the same but the property search engine has been replaced with what we believe is the aboslute best search tool you will see anywhere, guaranteed. We're so excited about it, we want to add a few words to help you maximize your search experience.


This software was created out of a need to have a superior public-facing property location system. Previous technology by other companies attempted to address such a desire, but different shortcomings in each solution were apparent. Given the radically changing web landscape and the massive increase in buyers turning to the Internet to find a home, we took on the tremendous task of finding an application to serve the needs of everyone involved.

What we came up with is unique in so many ways. With our detail-oriented staff, we were able to produce something that addresses every issue that other IDX programs have and create a feature set that overcomes even the largest real-estate search sites on the Internet today. Our IDX solution, which makes an interactive map onto which properties are plotted the central focus point, is blazingly fast, incredibly flexible, and extremely simple to use.

Our forward facing search for buyers (and even agents) leaves nothing to be desired. Visitors can search for properties by just dragging and dropping different elements on the web page and by interacting with the map. Every search that a visitor makes is returned instantly, and the matching results are displayed on that same page without reloading; essentially, there's just no need to wait. Each individual property, whether on the map or listed in the search results section, can be clicked on to instantly switch the program from the map tab to a full-featured property details tab. On it, the visitor will find all of the information about that property as well as a contact form, a mortgage calculator, a Zillow Zestimate (when desired by the agent or broker), a Google Street View of the property, a mini-map, school and community information, and so much more.

If you like this format, you should also check out our sister sites: http://www.90266realestate.com/ and http://www.socalistings.com/. Have search searching and please feel free to call 310 975 5139 with any questions.

what-it-takes-to-get-a-mortgage: Personal Finance News from Yahoo! Finance

what-it-takes-to-get-a-mortgage: Personal Finance News from Yahoo! Finance