(click on graph to enlarge)
In today's uncertain economic and real estate market consumers are making more conservative choices about how much they will spend for a home. This is true of the Manhattan Beach and the Beach Cities real estate market. One of the oldest maximums of real estate is to choose your home based on location...location...location. In Manhattan Beach many buyers prefer a home that is west of Sepulveda and an easy walk to the Beach and downtown Manhattan Beach.
Along with location, price and square footage are also major considerations when a buyer is thinking about purchasing a Manhattan Beach home. The chart above is a list of the homes currently for sale that are west of Sepulveda, over 1500 sq ft and priced at $1,500,000 or less. As you can see even in this market there are not a lot of homes in this price range.
One of the best values is # 4 on the list... 511 N Dianthus Manhattan Beach. This home is located in the Hill section of Manhattan Beach and features 3 bedrooms, 2 baths, 1900 sq ft. The views from the living room and master bedroom are awesome and the back yard is lovely with a wonderful Koi pond and lush landscaping. This home offers a wonderful opportunity for those who want a home on the Hill but are also budget conscious.
We won't have an open house this weekend as I'm working at the Hometown Fair but I would be happy to arrange a private showing . You can reach me via e-mail or just pick up the phome and call... (310) 721-7438
5 comments:
This is not Manhattan Beach, but do you know the history of 711 3rd St., Hermosa Beach, CA? The sales history looks really strange.
Pat,
You are right the history looks a bit odd.. there are 4 or 5 units in the building. The whole building was remodeled in late 2003- 2004.
Looks like this unit sold for $622,000 on 4/03/06 ( tax records show a sale amount of $394,000 on 4/18/2006 with a loan of $590,000 on 4/03/06 and MLS says sale of $622,000 on 4/03... so I think in this case MLS is correct)
Then there is another sale on 11/01/08 for $819,000 which seems like a big jump for 6 months even in 2004....
Now it is a bank REO.. they foreclosed on $657,760.. it was First Franklin and they had the first and second... they let the second go and foreclosed on the first. Current list is $599,999
Pat,
Sorry .. typo.. second sale was 11/01/06 for $819,000...
In the past, banks wanted more than the foreclosure price. This is the first time I've seen the bank ask for less than the foreclosure price in this area.
Pat,
Lots of things are changing. I just closed an escrow where the bank took less then the amount they foreclosed on and chased us to make the deal. We sure never saw that before.
However short sales are still very much the same with lenders not responding and often hoping for far more then the market price.
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