How Much is My Redondo Beach Home Worth?



Like most things real estate related the answer is "it depends". Are you talking about a value for refinancing or selling? If you are selling what is your time frame? Do you need any special buyer concessions such as a leaseback? Is the property a trust, probate, or distressed sale?

So while the general lack of inventory has created what the economists are characterizing as "choppiness" in the market, the simple fact is that there are still more buyers than sellers and the bidding and activity on new listings that present well are marketed and priced correctly is fierce.

With rents steadily rising and average fixed rates on loans still at 4% or below, the environment is ripe for selling. But unfortunately the low inventory in the range of affordability for first time buyers persists. While you will find properties priced lower, for the most part $750,000 and up is what it takes to buy a 3 bedroom 2 bath home in Redondo Beach these days. On the upper end we are seeing prices for new construction in South Redondo Beach coming in at $800 SqFt and list prices of $3M and over. In North Redondo Reach you can be looking at new homes selling for over $1.3M and up to $1.8M. Of course as new goes so goes resales. 

While I am not a great fan of the automated valuation models (AVMs) such as those found on Zillow and other sites they sure are fun to play with, Especially if it shows the value of our homes as higher than we think. But that rarely happens.

One of the problems with AVMs is that they are "automated" meaning they crunch the numbers of your home based on age, location, lot size, Sq Ft and other factors but they have not seen the house. So if you have a great view, lots of updates etc there's just no way the AVM is aware of that and your number will come in low. On the other hand if every comparable property is in great shape and yours is a dump, the AVM may over value it. But that doesn't mean you can sell it for that price.

Remember, the seller may set the list price but the market decides the sales price.

For the link for your automated home value and then contact me directly to find out how much your home is really worth.