A Time to Remember... Memorial Day 2011
Every May when I was a child Veterans would hand out poppies made of red, white and blue paper on the street as a sign of remembrance for those who died in the service of their country. The poppies were to be used to decorate the graves of the soldiers. At that time it was still called Decoration Day. Over the years the name has changed and Memorial Day is now more often thought of as a three day holiday than as a time to honor the dead.
How we view the military has changed over the years and we see battles in the streets as part of the nightly news. But one thing remains constant... the loss of our men and women in combat. So take a few moments from your celebration this weekend to remember those who have died in the service of their country.
Local Memorial Day events:
Hawthorne
A ceremony for war veterans will take place at 10 a.m. Monday at the Hawthorne Memorial Center, 3901 W. El Segundo Blvd. A free lunch will follow at noon at American Legion Post 314, 14124 Prairie Ave. For information, call 310-675-1313.
Lomita
Lomita VFW Post 1622 will hold a memorial service at 11 a.m. Monday at Veterans Park, 25700 Walnut St. (at 257th Street just north of Pacific Coast Highway). A luncheon follows at the VFW Hall, 1865 W. Lomita Blvd. You must have a flier to attend the luncheon. Fliers will be available at the memorial service.
For information, call 310-326-7132.
Redondo Beach
The city of Redondo Beach will hold its annual Memorial Day tribute from 1 to 2 p.m. Monday at the new Veterans Memorial at Veterans Park, adjacent to the Redondo Beach Pier
Donations are being accepted for the Redondo Beach Veterans Memorial. For information, visit www.RBVeteransMemorial.com/.
The Redondo Beach Elks Lodge 1378 is sponsoring a Memorial Day barbecue in the Elks parking lot south of the lodge next to the park. The barbecue is free for all veterans and members of the military. A $5 donation is requested for all others.
The Rev. Bhagavan Friend will hold his annual Empty Chair Memorial to America's Fallen Soldiers - All Services - All Wars. The service is dedicated to fighting men and women who have sacrificed their lives for the country.
The ceremony will be at 11 a.m. Saturday at 124 Sapphire St. It will feature distinguished speakers, a bagpipe player, harpist, bugler and color guard. Refreshments will be served. Attendees are invited to bring flowers to place around the memorial.
For information, call 310-540-6044 or visit www.emptychair.org/.
American Legion Post No. 184 is hosting a Memorial Day potluck picnic with hamburgers, hot dogs and potato salad. The public event is from noon to 3 p.m. Monday at 412 S. Camino Real, Redondo Beach.
Proceeds from donations will be used to purchase calling cards for the troops at Christmas.
Rancho Palos Verdes/Green Hills Memorial Park
The Memorial Day Observance begins at 10 a.m. Monday at Green Hills Memorial Park, 27501 S. Western Ave.
The event include a parade of colors presented by all branches of the armed forces, the mounted posse from the Lomita sheriff's station, musical performance by the 300th Army Band and Cabar Feidh Bagpipe Band, aerial flyovers and the release of 100 doves. Also the Boy Scouts and Girl Scouts will place roughly 8,000 American flags on the grave sites of veterans at Green Hills.
For information, visit www.greenhillsmemorial.com or call 310-521-4460.
Friday, May 27, 2011
South Bay-Beach Cities: Sold April 2011
South Bay- Beach Cities: SOLD April 2008-2011
Although April sales in many areas of Southern California were down significantly, April home sales in the South Bay-Beach Cities were a bit of a mixed bag. Some Cities were about the same as previous years while others did see a significant slip in numbers.
Although April sales in many areas of Southern California were down significantly, April home sales in the South Bay-Beach Cities were a bit of a mixed bag. Some Cities were about the same as previous years while others did see a significant slip in numbers.
May sales are looking to be a bit better than last month for many Beach Cities. Hermosa Beach is going to be the May winner with more sales than they have seen in the last few years. I expect to see similar sale numbers for the rest of the year.. some months good and some not so good depending on the city and the inventory mix. Prices are also bouncing around in the Beach Cities. As usual prime properties near the water are holding value better than those across the highway.
One of the biggest challenges the South Bay -Beach Cities are going to face in the fall is that the conforming loan level... currently $729,750... is going to fall. I expect to see conforming loans at $645,000 but there is a real possibility that they may drop lower. I'll be writing a post about the consequences of this action soon.
South Bay-Beach Cities: Sold April 2011
Sunday, May 15, 2011
Manhattan Beach: Market Snapshot Sold April 2011
Manhattan Beach: April Home sales 2007-2010
A few days ago the LA Times had a front page article about the decline of home prices in April in southern California. The tone of the article was indeed dire as it proclaimed this April to be the worst in 3 years. But as with many articles about the southern California housing market, the reality of the Manhattan Beach-Beach Cities market is not quite on the same level as other areas... especially those that are inland.
There were 36 homes and townhomes that closed escrow in April 2011 in Manhattan Beach. The numbers were the same as April 2010 while higher then April 2009 and April 2008.
That said home sales in the Manhattan Beach-Beach Cities real estate market this spring have been slower than many expected with interest rates hovering at 5% or lower and prices remaining flat or declining slightly in some parts of the South Bay -Beach Cities market.
Buyers are still unsure about where the economy is headed. The economic numbers nationwide may sound better but unemployment is still high in California and the rest of the country. Credit remains very tight as lenders seem to continually find new reasons not make loans to credit worthy buyers. It seems that once Congress decided to make lenders keep a percentage of their own money in the game the rules changed dramatically.
Appraisals continue to be an issue depending on whether or not the appraiser is familiar with the local market. The condition of the property has become more important than in previous years as lenders only want to loan on homes in average or better condition making "fixer" sales difficult to finance.
Inventory is creeping up with 156 homes, townhomes and condos for sale in Manhattan Beach. This is not as high as we have seen in previous years but higher than a few months ago. There are 32 properties for sale priced under $1,000,000 and 27 priced over $3,000,000. Properties that are priced right in a good location that show well are selling quickly... the rest are lingering on the market as they try to find buyers.
Manhattan Beach: Market Snapshot Sold April 2011
A few days ago the LA Times had a front page article about the decline of home prices in April in southern California. The tone of the article was indeed dire as it proclaimed this April to be the worst in 3 years. But as with many articles about the southern California housing market, the reality of the Manhattan Beach-Beach Cities market is not quite on the same level as other areas... especially those that are inland.
There were 36 homes and townhomes that closed escrow in April 2011 in Manhattan Beach. The numbers were the same as April 2010 while higher then April 2009 and April 2008.
That said home sales in the Manhattan Beach-Beach Cities real estate market this spring have been slower than many expected with interest rates hovering at 5% or lower and prices remaining flat or declining slightly in some parts of the South Bay -Beach Cities market.
Buyers are still unsure about where the economy is headed. The economic numbers nationwide may sound better but unemployment is still high in California and the rest of the country. Credit remains very tight as lenders seem to continually find new reasons not make loans to credit worthy buyers. It seems that once Congress decided to make lenders keep a percentage of their own money in the game the rules changed dramatically.
Appraisals continue to be an issue depending on whether or not the appraiser is familiar with the local market. The condition of the property has become more important than in previous years as lenders only want to loan on homes in average or better condition making "fixer" sales difficult to finance.
Inventory is creeping up with 156 homes, townhomes and condos for sale in Manhattan Beach. This is not as high as we have seen in previous years but higher than a few months ago. There are 32 properties for sale priced under $1,000,000 and 27 priced over $3,000,000. Properties that are priced right in a good location that show well are selling quickly... the rest are lingering on the market as they try to find buyers.
Manhattan Beach: Market Snapshot Sold April 2011
Wednesday, May 11, 2011
Selling your Manhattan Beach-Beach Cities home....First impressions are important!
Selling a home in today's Manhattan Beach-Beach Cities real estate market truly depends on three things.... price, location and condition. The days when you could list a property in a poor location and in bad shape and expect a great price are gone.
Over the years I have shared information about making your home market ready. In fact some of those posts are why sellers call me when it is time to list their home. Most sellers know that in this market they need to make a home market ready... they just aren't sure what that means in terms of getting the most for the money they have to spend.
Last week I met with some folks who are thinking about selling their home. They had lived in the house for about 25 years. They had maintained the property fairly well but they had not done much in the way of updates over the years and the home just felt tired. The yard was blah,... lots of green but few flowers. The interior and exterior were shades of brown, tan and Navajo white. The carpet was worn and the entire home was in need of freshening. As I talked with the owners about things they could do to perk up the house, I could see they were a bit skeptical about what I was suggesting. They were worried that a new buyer would not like the paint or carpet colors they picked. They wanted to know if they could just credit the buyer for carpet and paint because they were worried they "would spend all this money and the buyer would redo everything".
This is a concern of many sellers. They know their home needs some work but they are not sure what to do. What they don't realize is that it doesn't matter if they put in new carpet and the buyer wants wood floors. It doesn't matter if they paint the house gray and the buyer repaints it yellow. What matters is that the house looks and feels clean and inviting when the buyer tours the home. If the buyer changes everything later who cares. What is important is that the buyer decides to buy the house!
There is a big difference between sprucing up a home and doing a major remodel. I rarely think sellers should remodel the kitchen or baths but if the counter tile is cracked and broken they may need to think about new counters.
I usually recommend interior painting and possibly exterior paint depending on the condition and color of the exterior. Fresh paint is the most cost effective thing a seller can do to a property. I always recommend new carpet or refinishing hardwood flooring if the floors are worn. I 'm also a big fan of new faucets/fixtures in baths and kitchens. Light switch plates are another inexpensive item that make a home look better as are new door knobs if the existing ones have paint over-spray.
New landscaping is one of the most important and inexpensive items you can do with the exterior. Colorful flowers are one of the best investments a seller can make. Most buyers make half their buying decision on a property before they go through the front door. Appraisers also are influenced by the way a home looks on the exterior. Remember... you never get a second chance to make a first impression.
Another reason to spiffy up your home is that buyers are not really sure of the cost to put in new carpet, wood floors, or paint the interior and exterior. Often buyers believe the cost to be far higher than the actual cost. This is especially true if the house hasn't had anything done prior to being put on the market. In a buyer's mind the cost to re-carpet is more if the carpet is old and stained then if it is newer.
Often buyers won't actually do much to a home for a year or so after they purchase if it appears to be in good shape. Buyers feel more comfortable with a home that doesn't need a lot done immediately. Dated and clean is usually fine for awhile. Buyers will pay more for a home that is clean and in good shape than for the same home that looks old and worn.
Property condition can't make up for a bad location or a price that is too high. However if you and your neighbor down the street are on the market with a similar floor plan and price, the condition of the house will often be the deciding factor.
Monday, May 09, 2011
1450 Manhattan Beach Blvd #D MB.....Open Sunday May 15, 2011 1-4 PM.. Major $$ Reduction!
1450 Manhattan Beach Blvd # D Manhattan Beach..
Open Sunday May 15, 2011 1-4 pm
Check out the New Price!!!
Manhattan Beach address for a North Redondo Beach price!
Not a misprint on the price....Now $499,900...
If you want to live in Manhattan Beach but don't have a lot of cash this unit is the perfect choice. Updated 2 bedrooms, 2 bath with fireplace and city views...The 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. There is additional parking in front of the garage for a total of 3 parking spaces.
Ideally located near the park, shopping and schools. The unit is about a mile to the beach and downtown Manhattan Beach... Call(310) 721-7438 or email Kaye for an appointment to view..
$499,900
Tuesday, May 03, 2011
South Bay-Beach Cities: Sold March 2011
New Construction Redondo Beach: May 2011The good news is that closed sales in March were a major improvement over those in January and February in all the South Bay-Beach Cities. The bad news is that closed sales in April are not looking as good as those in March. However pending sale numbers are holding fairly steady with not too many surprises. Inventory is creeping up a bit but not overly so for the time of year.
All in all what we are seeing is a lackluster but fairly steady market. Buyers want homes that are priced to sell, in good condition and in a good location... and they tend to sell very quickly. Marginal properties command significantly lower prices and seem to stay market for long periods of time unless they see major price reductions. Buyers are picky and willing to spend a long time looking for the right house. There is no sense of urgency in this market... yet.
The big surprise for many is that new construction is beginning to hit the market. Redondo has 13 properties on the market listed as new construction. Builders in Manhattan Beach are again picking up properties to tear down and build spec homes. While there are not many of these projects yet... the fact that builders are returning to the market indicates that our local Beach Cities real estate market may be starting to see some stability.
That said... short sales and foreclosures will keep the market in check for a little longer. Rising interest rates may be an additional factor to consider, although the last time rates soared in the late 70's and early 80's prices remained flat rather then declining by a huge percentage. As always the only constant in this market is change...
South Bay-Beach Cities: Sold March 2011
All in all what we are seeing is a lackluster but fairly steady market. Buyers want homes that are priced to sell, in good condition and in a good location... and they tend to sell very quickly. Marginal properties command significantly lower prices and seem to stay market for long periods of time unless they see major price reductions. Buyers are picky and willing to spend a long time looking for the right house. There is no sense of urgency in this market... yet.
The big surprise for many is that new construction is beginning to hit the market. Redondo has 13 properties on the market listed as new construction. Builders in Manhattan Beach are again picking up properties to tear down and build spec homes. While there are not many of these projects yet... the fact that builders are returning to the market indicates that our local Beach Cities real estate market may be starting to see some stability.
That said... short sales and foreclosures will keep the market in check for a little longer. Rising interest rates may be an additional factor to consider, although the last time rates soared in the late 70's and early 80's prices remained flat rather then declining by a huge percentage. As always the only constant in this market is change...
South Bay-Beach Cities: Sold March 2011
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