|1508 Carver St Redondo Beach Golden Hills SFR|
Way back when there was a book by the legendary manager of Fidelity's Magellan Fund Peter Lynch titled something like "Beating the Street". He wrote about things like balance sheets and P&Ls but his basic remise for the investor was go down to the local mall (ok this was pre-internet) and see which stores, restaurants etc were busy, gave great service had great products and if they were public companies maybe those were stocks to buy. That's still pretty good advice today. How many hours did you spend on Facebook or "Google" something? How's their stock prices doing? Exactly.
So, what, you may ask, does this have to do with Redondo Beach Real Estate? Great question.
I spent the last 2 weekends hosting Open Houses at my last two Redondo Beach Golden Hills listings. Each day there were at least 100 individual people (maybe 30-40 couples). Even on Sunday when we had the big wind storm and the rain was driving sideways there were 100 people at my OHs. Both of them: 1508 Carver and 1811 Stanford. Needless to say I received multiple offers, over the list price, for both properties. But that's a different story.
Here's the story I want to tell.
Considering that the last few weekends there have been about 30 active listings on the market in 90278, the buyer demand and real buyers in the market far exceeds what can be bought. We've been in a low inventory environment for a while but it is deteriorating not getting better.
So, if Redondo Beach was a stock, Peter Lynch would say it is a buy.
As I have been writing about for a long time, Redondo Beach, and North Redondo in particular is simply the best value in coastal LA County all things considered. Or put another way, you can still buy a nice home for under $1,000,000. Try that on the Westside, Manhattan or Hermosa or almost any other city or town. And if you can go over $1M you will be buying a really, really nice house.
Buyers have definitely figured it out and many are shopping up to $100K below the purchase amount they are approved for so they can engage in the multiple offer bidding wars.
Learn more at 1811Stanford90278.com.