Townhouse Pocket Listings North Redondo Beach CA

So, what's a pocket listing? Well that probably depends on who you ask. In general you can consider a pocket listing to be any listing not made available to the public through the MLS. Most Brokers active in a neighborhood have either formal or informal pocket listings that they either try to market through networking groups or to their own clients. In fact, this practice of keeping properties out of the MLS has become a major source of contention (because of the inventory shortages) and the most current version of the commonly used listing agreement advises sellers that they will get the most activity, and presumably the highest price, by the greatest exposure which is through the MLS and then dissemination to the public facing portals such as Zillow, Trulia, etc.

So, why would a seller not want to have their listing receive the widest exposure in the MLS? Excelent question.

Sometimes it is a timing matter. For example the homeowner is doing last minute improvements but also doesn't want to lose any prospective buyer. This works best when the property has some unique features or price point that has a limited audience. It's also a nice proactive touch to get interest from a potential buyer who may have settled for a home they did not like as much. Or as I advise my seller clients. "You do not want to lose your potential buyer because they didn't know about your property."

Other times, it is a matter of access such as the home is tenant occupied or one of the occupants is ill, or there is a divorce going on or any number of reasons where the owner may want to limit access to the public even if that could cost them on the sales price. Or, they could simply not be ready, emotionally, financially, or otherwise to make a move but can be motivated by the right offer.

Here's some examples of my current North Redondo Beach "pocket listings".

2114 Huntington Lane will be in the MLS on Tuesday March 18th, 2014 (pictured above). It is a 4 bedrooms, 2.5 baths, 2305 sq ft attached front unit built in 1990 updated with a remodeled kitchen, over size bedrooms, shows very well and in great condition. The home sits at one of the highest points on the block so you can see the mountains and downtown on a clear day from 2 of the front 2nd floor bedrooms. Nice block with other townhomes and SFRs, no apartments.

It has a great floorplan that has been selling well recently. Downstairs formal living room and dining room plus eat in kitchen and family room. Upstairs 4 over size bedrooms. We will have it available for Broker's Open Houses on Thursday March 20th from 12-2 and Public Open Houses on Sat-Sun March 22nd and 23rd from 1-4 PM.

When it hits the MLS it will be priced at $849,000 which in my opinion makes it a great buying opportunity considering the location, space, condition, and layout. For a buyer to secure it as an off market sale, the selling price would have to be considerably higher by at least $30K.

Here's some other "off market" and pocket listing opportunities I have.

Golden Hills townhouse (pictured left) built in 2007 with 3 bedrooms (2 upstairs, 1 down), hardwood floors, solid granite countertops, crown molding, stainless steel appliances, dual-paned windows, and yes, air conditioning. About 1600 sq ft, priced in the mid $700's which is what 3 on a lots on the other side of Aviation Blvd in MLS Area 152 are selling for. And those are often much further east. This unit is about 1 mile or so from the beach.

Speaking of MLS Area 152, I have a 3 bedroom pocket listing reverse floorplan townhouse built by Powers Development in 2003 that will be priced just about at $700K. It has all the bells and whistles (granite stainless steel, etc.) 

If you are interest in any of these units, call me at 310 975 5139 or email socalistings@yahoo.com.