South Bay-Beach Cities: Sold 2007-2010

South Bay-Queen's Necklace View....

Trying to get a handle on the local Beach Cities real estate markets is can often seem like trying to climb a slippery pole... difficult at best. The South Bay-Beach Cities real estate markets, like all LA County real estate markets, have seen home values and sale volume decline in recent years.... we just haven't been hit as hard.

The Beach Cities market has had its share of distressed sales...foreclosures, short sales, pre-foreclosures, job transfers, divorce and deaths. Tighter lending guidelines, difficult appraisals and paranoia on the part of many lenders have helped keep prices and volume low. But this is not necessarily a bad thing. Markets need time to adjust to different parameters.

Overall the South Bay-Beach Cities Real Estate market has been on the flat side and will likely remain so unless market forces take a sudden dive. A flat market gives buyers and sellers a chance to review their options and take some time to make decisions about their housing needs and desires. As long as inventory and sales remain relatively flat, the South Bay-Beach Cities real estate markets will continue to be on the stable side.

However even a somewhat stable market will have price fluctuations. Our local real estate markets have a number of sub markets that are constantly in flux. Many High end Strand properties are selling at some benchmark prices. Many of these sales are off market. Short sales will continue to be more of a factor in Redondo then in Manhattan, Hermosa or El Segundo.

Lenders show no signs of making credit easier to obtain. Whether you are looking to purchase a home or need money to run a business banks show no signs of easing on their stringent requirements. These decisions by the credit markets will keep the economy from gaining much momentum in the coming year.

South Bay-Beach Cities: Sold 2007-2010

South Bay-Beach Cities Inventory Levels: January 2009, 2010, 2011

Manhattan Beach Open House: Open Sunday January 30, 1-4 pm

1450 Manhattan Beach Blvd #C and #D
Manhattan Beach CA

Open Sunday January 30, 2011... 1-4 pm





Polliwog Park








Wow... Manhattan Beach condos under $524,750!



If you want to live in Manhattan Beach but don't have a lot of cash these units are the perfect choice. Each unit has 2 bedrooms, 2 baths, fireplace and loads of upgrades. Each unit has a private 2 car enclosed garage with a large storage room and the units have their own private laundry room with space for storage.



These units are ideally located near the park, shopping and schools. They are about a mile to the beach and have wonderful city views... Call(310) 721-7438 or email Kaye for an appointment to view..






1450 Manhattan Beach Blvd #C...Manhattan Beach CA... $539,000






1450 Manhattan Beach Blvd # D Manhattan Beach CA ... $549,000

Manhattan Beach: Tale of a Sale.. Appraisals..it's not always about price

A lot of buyers are looking for "fixer uppers" in the Beach Cities. Many buyers believe they can purchase these homes at a low price, put a little money and work into them and wind up with a great deal. Sometimes it works out better then expected. However as with all aspects of the real estate market the more you think you know the more you really need to know.

Last year I closed escrow on a home in East Manhattan Beach that was marketed and sold for land value. The house was small and had a lot of deferred maintenance. The lot was huge, 14,000 square feet, and sat at the crest of a hill.

The home sold within 2 days of being on the MLS. The price accepted by the sellers was close to the list price and the buyers were exceptionally well qualified. The home was sold as is which was acceptable to the buyer as they are going to build their dream home.

All was going well until the appraisal. The appraiser knew that the home was being sold for land value and even noted this on her report. She also noted that the buyers planned to build a new home. She indicated that the value of the property was at the agreed price.

Unfortunately she didn't stop there....she noted something else... the home was not in great condition. She went on about what a great neighborhood it was and how lovely all the homes were and how expensive the property was in the area. Finally she made a list of all the things that needed to be done to the property to bring it to "average" condition and put a price tag on the list of $140,000.

Bells went off, whistles blew, lights blinked while buzzers buzzed..... and the lender who a few days before was ready to fund immediately said no. So what changed this deal... 4 words.. not in average condition. Now remember everyone knew this was a land deal... the house had no value and the appraiser said it was worth what the buyer had agreed to pay but because the appraiser said it needed lots of work to be average the deal was off.

In today's market, lenders don't want to loan on property that is not in average condition. There are a few who will make a loan on these properties but they are so overwhelmed with applications it takes forever to get an approval.

The problem comes down to what it average. The appraiser thought the house needed at least $140,000 to make it average which was silly. The house was solid and really only needed paint, new carpet, minor repairs and a good cleaning for the appraiser to decide it was now average. What was so senseless was that the seller had to spend money to fix up a house that was going to be torn down immediately.

Most of the time appraisers are at or very near the value that buyers and sellers agree on as fair market . It's not always about price... sometimes, even though the appraisal comes in at market value, it is not enough to make the lender agree to make the loan.

Manhattan Beach under $550,000....

Polliwog Park

Wow... Manhattan Beach condos under $550,000!

If you want to live in Manhattan Beach but don't have a lot of cash these units are the perfect choice. Each unit has 2 bedrooms, 2 baths, fireplace and loads of upgrades. Each unit has a private 2 car enclosed garage with a large storage room and the units have their own private laundry room with space for storage.

These units are ideally located near the park, shopping and schools. They are about a mile to the beach and have wonderful city views... Call(310) 721-7438 or email Kaye for an appointment to view..

1450 Manhattan Beach Blvd #C...Manhattan Beach CA... $539,000






1450 Manhattan Beach Blvd # D Manhattan Beach CA ... $524,750

Redondo Beach: Open Sunday January 16, 2011....1-4 pm 3011 Johnston Ave

Open Sunday January 16, 2011... 1-4 pm

3011 Johnston Redondo Beach.... Home plus permitted guest house...


Don't miss this unique opportunity to own a single family h ome and a permitted guest house... The main house is an 1860 sq ft 2 bedroom 1 bath with large family room, huge dining room and remodeled kitchen and bath.. The guest house is a charming studio with remodeled bath.

This home is the ideal solution if you are looking for a place for parents or if you need a totally separate office area. Located in the TRW tract of Redondo Beach this property is close to aerospace and has easy freeway access.

The terrific home is on an 8300+ sq ft lot that has alley access... This is perfect for someone who has lots of cars and wants to build a large garage...

This is a wonderful mid-Century home with a definite Palm Springs resort feel...

$852,500