Redondo Beach CA Homes for Sale: New MLS Listings

I'm pleased to see that we've started off 2014 with a nice flow of new listings in North Redondo Beach. If you've been reading this website or following me on Twitter @ellisposner you are certainly aware of the inventory shortages we've been carrying in N Redondo Beach the last year or so. While this has contributed to price increases, ultimately a more balanced market tends to work in everyone's favor.

Since January 1, 2014 there have been 23 new MLS listings in 90278 and a total of 50 homes for sale as of this blog posting. During this same time period 9 homes have closed escrow and 9 have gone into escrow including one just listed after the 1st.

So, without further ado here's an overview of the new listings. I've seen a number of these in person either at Broker's Open Houses, with clients or have previewed them previously.

NEW CONSTRUCTION

There are currently 2 new 3 on a lot townhouse projects being marketed in MLS Area 152 of North Redondo Beach. They are both very nice projects and should sell relatively quickly close to or at list price.

There are 3 "no common driveway" attached townhomes that have just been completed at the corner of Carnegie and MacKay (2300 block) that are being marketed by Lenny Larocca of Shorewood Realtors. (Living room of 1707 MacKay pictured above.) These are very nice, well done unique properties with a lot of detail and finish work. The middle unit is in escrow but the two end units are currently available.

I really like 1707 MacKay. It has a very unique 4 bedroom floorplan and at 2285 sq ft is actually larger than some 2 on a lot units.

I am, however, quite curious to see what it winds up selling for. It is currently listed in the MLS for $849,000. I have recently sold detached 4 bedroom 2 on a lots in the low $8's. Of course, there's nothing quite like new construction so it is possible they achieve their price point. Based on the price per square foot, 1707 is a particularly good deal and I would be surprised if it lasts long (even though I really don't get the built in bookcases in 2014).

For more pictures and details: 1707 MacKay Lane MLS SB14004314 $849,000.  2322 Carnegie Ln MLS SB14004250 $849,000.

Also new on the market and new construction are the units at 2416 Grant listed by Manoj Narang of 3 Leaf Realty. He actually placed Unit C on the market towards the end of last year for $820K and unit A and B on the market since the first of the year for $799K and $810K respectively. These units are a little smaller than the ones on MacKay/Carnegie and therefore priced somewhat higher per sq ft. Very well built standard product. For more details and pictures 2416 Grant Ave Unit A MLS SB14002692 $799,000; 2416 Grant Ave Unit B MLS SB14002698 $810,000; 2416 Grant Ave Unit C MLS SB13245150 $820,000.

No matter which one of these new units you like, here's what you can extrapolate from this. Expect 3 on a lot pricing for new (post 2005) and larger (than 1750 sq ft) units to start to stabilize in the low-mid $7's with older and smaller units being priced mid to high $6's. FYI, more new construction to come in the next few weeks as some Amir Amiri projects are finishing up in the eastern quadrant of MLS Area 152.

GOLDEN HILLS

We saw three new Redondo Beach Golden Hills "Tall and Skinny" SFRs hit the market since the first of the year.

1519 Wollacott St is a 4 bedroom house with the living room, dining room downstairs and the bedrooms upstairs. It is listed by Ed Kaminsky of Shorewood Realtors. I really wanted to like this one a lot more than I did when I viewed it on Broker's Open. That doesn't mean I didn't like it - just wanted to like it more if you know what I mean. Here's what Ed said about it in the MLS:

"This elegant tall and skinny is spacious and unique. The entrance invites you to the formal living room w. cozy fireplace and private balcony overlooking the city. Family room boasts hardwood floors, second fireplace and opens up to the kitchen w. recessed lighting and tiled breakfast bar. Great city views from living room and master bedroom. All four bedrooms and laundry are located upstairs. Master bedroom has private balcony and en-suite bathroom which is updated w. frame less shower and new plumbing and lighting. Exit to your own private, serene back patio with lush landscaping and beautiful tile work. Own the dream house you’ve always wanted. Close to California Distinguished Birney Elementary School and located in a great family neighborhood."

I really liked the downstairs and the city view from 2 levels. What left me a little wanting was the 3 bedrooms to the rear of the house (master seemed ok). MLS SB14004035 $925,000.



1608 Morgan Ln Redondo Beach CA 90278 is priced right but I just wasn't "feelin" that house when I previewed it on Broker's Open. I found it missing something - maybe too dark or needs a bunch of updates. Usually I really like the original wood cathedral ceilings. Oh, well. But as I said, considering the size and location, priced right. It is listed by Shorewood Realtors and priced at $799,000. MLS SB14005040.



I haven't seen 1530 Steinhart yet but I'm going to go out on a limb here and say I think it is over priced (no surprise) at $869,000. I'm finding that to get over $850K for a 3 bedroom 2.5 bath Tall and Skinny is kind of tough right now unless there are some special amenities such as a view or it is newer. MLS SB14006430. If I change my mind after I see it, I'll post that as well.

TWO ON A LOT TOWNHOMES

These get my attention and not just because some people call me the "Redondo Beach Townhouse Guy" lol. No, really. I find the 2 on a lots, particularly the detached 4 bedroom 2 on a lot units, to be some of the best values in LA County over the last few years. Yes, its true that you are sharing a common wall or driveway with a neighbor in many instances but the pros of this form of housing outweigh the cons in my mind. So, I was glad to see some new 2 on a lot listings hit the MLS since the first of the year.



2007 Marshallfield Ln Unit A. Now this is what I'm talking about! (Pictured above.) Per the MLS listing: "Gorgeous detached townhome, newer built in 2005 by MARK LACHARITE, sold for $989,000 back then. This home is covered with beautiful premium hardwood in all rooms and areas. Large gourmet kitchen with granite counter top, high end cabinets and stainless appliances, including double oven. Brand new counter depth refrigerator included in the sale. Mega-size master suite with 2 walk-in closets and extra entertainment area, leading to either a baby room or home office room. Spacious master bath with spa tub. Many designer touches including wrought iron stair railing, crown molding, vaulted ceilings. Laundry room comes with cabinets and sink. Brand new Washer and dryer included. Security system and CAT 5 lines installed. No HOA. No shared wall with the front unit owner. Back unit with lots of privacy. Quiet residential street with mostly homes around. Located in the award winning Redondo Unified School District. Jefferson elementary school, Adams middle school, and Redondo High." MLS SB14004363. 4 bedrooms, 2380 sq ft. Priced at $929,000.


2306 Pullman Ln Unit B. This one looks to be the "deal" of the  week priced at $789K. I sold basically the same unit on Harriman for a little over $800K towards the end of last year. That one was also listed below $800,000 but sold for higher and appraised even higher than that! This one is on the south side of the street so I'm guessing the backyard may be easier to grow grass in, lol. Here's what the listing agent states in the MLS:  "Beautiful, bright detached rear unit townhome in a great location in Redondo Beach. Wonderful, versatile floor plan with all 4 bedrooms upstairs. The oversized living room as a fireplace and flows into the dining room and kitchen, great for entertaining. The bedrooms are spacious and has new carpet throughout. The master bedroom also has a fireplace, vaulted ceiling, walk-in closet and large batrhoom. The home has great outside living space with a custom awning and grassy area, perfect for BBQ's and entertaining." Listed by South Bay Brokers. MLS SB14004898.  2134 sq ft built in 1995.

SHORT SALES

Yes, short sales are back (I hope not). Fortunately for many homeowners the rapid price acceleration last year lifted them up from being underwater. I'm expecting that we'll see a small flow of shorts and even REOs in 2014 as those who really can't afford the properties are ready to let go and stop hanging on. 

The trend I have seen in short sales, though, is that they are harder, not easier to get approved due to the price increases and when they do sell, it may not really be at a discount to the market. My advice remains as it has been the past 4-5 years: if you really like the property and not just the low price in the MLS, the inconveniences of buying a short sale can be well worth it. Just remember that with short sales both the selling price AND the short sale itself have to be approved by the bank. So, as one of my clients once commented, there's a lot of moving parts and even in the heyday of shorts, many were not approved or did not close.

634 Meyer Ln Unit B is listed by Century 21 for $615K and I'm thinking may fetch about $650K. 2701 182nd Pl is a SFR with 3 bedrooms and is listed at $550K.

So, that's my review for the start of January. Whether you are buying or selling a home in Redondo Beach CA, I will save you money on commissions, escrow fees, and closing costs. Call me at 310 975 5139 for more info. Happy House Hunting!

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