Redondo Beach Realty Update: Week of 9.15.2014

Remodeled Kitchen 2105 Mathews Unit 12
A little slowdown in new listings compared to the first two weeks of the month with nine homes entering the MLS including my listing at 3303 Johnston Ave which went into escrow virtually immediately (another one of my off market "pocket" sales) and my new listing at 2105 Mathews Ave Unit 12 (pictured) which will be open Sat-Sun Sept 20-21st from 1 to 4 PM and yes I will be there.

Another eight properties went into escrow and six closed escrow leaving us with 24 home sales closed through the first 20 days, a staggering 59 currently in escrow and 78 active listings which is certainly more inventory than we've seen earlier in the year.

Buyers are interpreting the buildup of inventory as a "slowdown" but I'm not so sure as long as we are seeing about an equal number of properties come on the market as go into escrow. What I do see happening is that some sellers are getting ahead of the market and pricing their properties considerably higher than they should be. I've written about that previously because it is a mistake that may ultimately cost the seller. The idea of "testing the market" or "leaving room to negotiate" just isn't the right strategy today. Price your listing to sell.

NEW LISTINGS 

My listing at 2105 Mathews Unit 12 is a great deal and not just because I listed it! Really. Here's what I said about it in the MLS:
2105 Mathews Unit 12 Redondo Beach Townhouse for Sale
"If you are looking for a unique, huge, updated, open and bright townhouse in a great location, this 2071 square foot (btv), three level 3 bedroom, 3.5 bath end unit with a a terrific floor plan is it. The remodeled kitchen features special order cabinets with self closing drawers, stainless steel appliances, granite counter tops, recessed and under cabinet lighting, and a breakfast bar plus an eat in nook. There is a separate dining area, full bath, and bedroom on the same level plus a great room living area. Upstairs are 2 bedrooms including the master with its own balcony and 2 more full baths. Downstairs on the main entry level is a huge bonus room that is perfect for an office, family room, home theater, or anything else you can think of. The lower level also includes another updated half bath, washer and dryer hookups, and extra storage. Direct access 2 car garage and located in the rear of the complex for peace and privacy. This home is conveniently located close to freeways, top notch schools, and just 10 minutes to the beach. It’s an easy walk to shopping, restaurants, Starbucks, the grocery store, library and more. This is a great opportunity to get more space than you thought you would in this price range. Put this one on your list to see!"

It is priced at $649K which makes it extremely competitive with 3 on a lots priced that are substantially smaller. Some buyers will cleverly over look it because it is on Mathews near the Albertson's but that would be a mistake because it is in the back of the complex and very quiet. FYI, Zillow has it at $775K "Zestimate", which is most likely $100K higher than it will sell for.

I wrote about the Amir Amiri new construction on Clark last week and I am fairly blown away by the pricing all things considered. These are 4 bedroom Tall & Skinny SFR priced at and above $1.2M



1615 Clark Lane is listed at $1,195,000 for a 4 bedroom 1934 standard floor plan SFR and 1617 Clark Lane is priced at a staggering $1,245,000. Don't get me wrong, I like these properties but not crazy about the location but there are a number of other Redondo Beach homes I would buy before I shelled out this much for these properties.


MID $900's is the "NEW NORMAL"


Redondo Beach CA detached 2 on a lot Townhouse
For newer detached standard cookie cutter floor plan two on a lots. Example is 2417 Clark Lane Unit A. Built in 2005 "this Front Unit, detached townhome brings private, single-family appeal to this newer home. The private backyard and spacious front yard boast custom stone features, grass and beautiful landscaping. The home design provides extra space between the neighboring homes adding a unique bonus compared to standard townhomes. Plantation shudders in almost every room are combined with wood, travertine and new carpet flooring intelligently placed throughout. 4 bedrooms, all upstairs, provide the perfect, modern layout. The downstairs layout opens to the beautiful backyard and keeps the living space bright, open and airy. Other prime features include: Crown and baseboard molding throughout; family room surround-sound speakers; granite counter tops in kitchen and bathrooms; extra-large master suite including large sitting area; upstairs laundry room; recessed lighting throughout. The curb appeal here is terrific. This is the best looking house on a block of great looking houses. Terrific neighbors! This close-knit neighborhood gives the sense of neighborly warmth. The small, beautifully manicured park on the block provides a great open area for local residents to enjoy time right outside of their homes." Priced at $969,000 which is as I said the "new normal" and all things considered still a pretty good deal.


CLOSED HOME SALES


As I mentioned 6 homes closed escrow. Nothing particularly outstanding or unique here. A lot of demand for anything right around or under $600K and new detached townhouses with 2111 Curtis selling for $987,000 (down from $999,000). There's a lo of turnover in "V-C-R" my acronym for Vanderbilt, Carnegie, Rockefeller. If you throw Grant into the mix those 4 blocks are the most activity historically in N Redondo because of affordability and density.

The detached 2 on a lot on Curtis was "built by renowned Mark La Charite Homes in 2010. Mediterranean floor plan with all 4 bedrooms, 2.5 bathrooms & laundry room upstairs. Gorgeous gourmet kitchen with commercial grade Jenn-Air stainless steel appliances and granite slab countertop. Granite counters also in powder bath and master bath. Spacious living room with gas fireplace. Beautiful Brazilian cherry hardwood floors throughout downstairs. Brand new carpet upstairs....Huge master suite with gas fireplace, separate sitting area with built-in bookshelves and balcony, spa tub and enormous walk-in closet. Beautiful custom wrought iron inside and out. Beautiful random-stamped pattern showcased in driveway and rear yard. Fenced backyard for outdoor grilling & entertaining. Attached 2 car garage. Custom shutters throughout upstairs & downstairs. A fantastic family home conveniently located near parks,restaurants, and beaches."

IN ESCROW WEEK OF 9.15.2014

Eight properties had accepted offers with the MLS pricing being in the historical sweet spot for N Redondo Beach between $500-$800K. As I mentioned my "pocket" listing on Johnston was really sold "off market" as I often do. I am not representing the buyers but I do market my pre-listed properties to my own clients and other Realtors I network with. Johnston is a great deal that is more or less being sold for close to or below lot value. It is an enormous 8000 plus sq ft lot on a lot with no homes behind it located in the "TRW" tract near Manhattan Beach Blvd but not too close to Inglewood Ave.

A few properties that had been lingering on the market for quite a while finally went into escrow including  2121 Farrell, 700 Meyer, and 2606 Huntington.

if you or anyone you know is thinking of Buying or Selling in Redondo Beach, Hermosa Beach, or Manhattan Beach you owe it to yourself to talk to me. There is a difference in Realtors!

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