Manhattan Beach Real Estate-Redondo Beach Townhomes

Manhattan Beach CA Home Sales: Sold January-December 2000-2011

2012-01-24T11:22:00.000-08:00

Over the years I have kept a running tally of the number of single family homes that close escrow each month. I haven't included townhomes or condo sales as they are a small part of the Manhattan Beach home sales and they tend to fluctuate more than single family homes. In Redondo Beach it would be the exact opposite as townhomes and condos make up the major share of that market.

The difference in the volume of home sales as well as the prices over the last 11 years makes for some interesting comparisons. It is easy to see that while prices started their upswing in 2003; 2005 was the year prices took a major leap and 2007 was the year volume took a hit. Prices began their dive in 2008 with 2009 being the toughest year for Manhattan Beach home sales.

Both prices and the number of sales bounced up and down in 2010 and 2011 as the market looked for stability. The big question for buyers and sellers is whether this will be the year the market finally finds stability and begins to trend up instead of down.

Manhattan Beach Home Sales: January-June 2000-2011

Manhattan Beach Home Sales: July-December 2000-2011

Manhattan Beach: Market Snapshot December 2011

2012-01-20T21:48:00.000-08:00

December home sales were definitely nothing to brag about but compared to closed sales from other months in 2011 it could have been worse. 2011 was not a stellar year for Manhattan Beach Real Estate by any measure but then it wasn't a total flop either. 320 homes and 75 townhomes sold last year in Manhattan Beach at a time when much of the country and some neighboring communities remain sunk in the doldrums of a housing market that just can't seem to find any traction.

Inventory remains low but if the number of new listings on the Broker Open tour for Manhattan and Hermosa Beach is any indication we may be seeing a lot more homes hit the market soon. Typically we don't see a lot of new inventory until after Super Bowl Sunday but this year might be an exception.

Along with some sharp new listings there were a number of homes that have returned to the market after taking a hiatus last year. While there were a few homes that made you wonder about the price was picked most of the new entries seemed to priced near market. This bodes well for the coming year as more sellers seem to be accepting the realities of the market.

Manhattan Beach: Sold December 2011

Redondo Beach Open House: 3011 Johnston Ave... Open Sunday January 15, 1-4 pm

2012-01-20T18:03:00.000-08:00

Open House Saturday January 21, 2012 1-4 pm

3011 Johnston Ave Redondo Beach

New Price... now $799,000

Hard to find... Home plus legal Guest house on a large lot
Don't miss this rare opportunity to own a single family home and a permitted guest house on an oversize lot in the TRW tract of North Redondo. ... The main house is an 1860 sq ft 2 bedroom 1.5 baths with large family room, huge dining room and remodeled kitchen and baths.. The guest house is a charming 300 sq + studio with remodeled bath.

This home is the ideal solution if you are looking for a place for parents, grown children or a separate office area. The terrific home is on an 8300+ sq ft lot that has alley access... The possibilities are endless....

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

Manhattan Beach-Beach Cities: 2012 Real Estate Market .. The year ahead

2012-01-01T12:18:00.001-08:00

For the last few years I have shared my thoughts about where I thought the market was headed each year... and this year is no exception.   Making predictions is easy, the difficult part is finding out close your ideas were to reality.

Last year I thought the market would be very similar to the one in 2009 and I was  fairly accurate. Truthfully I don't see much change in 2012.  I believe sales will continue to be slow but steady and prices will be flat with a few sub markets markets declining and a few showing increases in value. .

Nationally the economy appears to be growing. The final numbers won't be available for a few more weeks. Retailers and others are counting on a strong surge in spending in recent weeks as an indication that we are moving forward. California's unemployment rate dipped to 11.7% in recent weeks which is still very high but at least it is finally moving in the right direction. Nationally the rate dropped to 8.6%.   Whether the trend continues down is another issue that all the Presidential candidates will discuss at length I'm sure.

Unfortunately there are issues that will affect our economy over the coming months. Just as we were beginning to see a measure of stability in our country the European nations are showing signs of real problems. China is also facing economic problems. As our major creditor this could have an effect on our economic progress.    Like it or not we have become a global economy.

The Government says the problems faced by the ongoing housing crisis are a high priority but new Federal regulations and guidelines add to the problems. What Bozo thought that adding a tax on mortgages for 10 years to fund the "payroll tax cut" for 2 months was a smart idea. All we need is more of that brilliant thinking to make sure the housing market continues to flounder.

Manhattan Beach-Beach Cities Real Estate...

The final sale numbers won't be in until next week but it looks as if the number of sales in Manhattan Beach and South Redondo increased while they decreased in Hermosa Beach, El Segundo and North Redondo. If the traffic at the local Malls was any indication of how people were viewing the economy... things are looking up.   The Neptunian Womans Club Gift Wrap station at  The Manhattan Village Mall was busier than it has been for the last 4 years.

Our local real estate market saw an increase in the number of distressed ( foreclosure, short sales and pre-foreclosure) property sales in all the Beach Cities. Manhattan Beach had the least with about 10% distressed sales and North Redondo saw the highest with 21% of closed sales.

In October the conforming loan amount officially declined from $729,750 to $625,500. The change didn't take effect until October but lenders stopped making loans at the higher amount around the end of August. While the decrease didn't really affect Manhattan Beach it definitely had an effect on the other Beach Cities.   I don't believe it is a coincidence that prices on short sale townhomes in North Redondo dropped significantly at the same time.

I don't think we will see a major change in most of the South Bay real estate markets in 2012 from 2011. Prices will bounce around as buyers remain cautious. Manhattan Beach home prices have been the most stable of all the Beach Cities. I believe that trend will continue. North Redondo will likely be plagued by short sales that will push the market down a bit. Hermosa Beach, South Redondo and El Segundo may well see an uptick in short sales as lenders decide it might be more prudent to clear their books rather than continuing to delay the inevitable.

If interest rates remain stable you could see an increase in entry level prices in Manhattan Beach. This will hold true if more builders decide to take the plunge and start buying lots. I know of a number of agents who are actively looking for buildable lots and fixers in Manhattan Beach.    I don't think you will see much new construction in the other Beach Cities for awhile although there have been a few new projects in North Redondo.

Obtaining a new loan continues to be difficult. property prices in the South bay-beach Cities remain high despite the declines in value. many entry level properties will require Jumbo loans with the drop in conforming loan rates. New FHA limits will help buyers but many of their rules discourage folks who don't want to pay the upfront fees required by FHA.. Refinancing your home can take months. Appraisal issues haven't gone away as out of area appraisers are used by many lenders even though there have been changes to the original law.

While overall Manhattan Beach and the Beach Cities have had fewer problems than many other communities in LA County we are at the mercy of conditions we have no control over. Many homeowners have been holding on with a tenuous grip as the economy has remained precarious for longer than expected.   Some good news in the economy would be a welcome sign for everyone.

Happy New Year... 2012

2011-12-31T23:30:00.000-08:00

Wishing you a Happy, Healthy and Prosperous 2012

South Bay-Beach Cities: Sold November 2011

2011-12-31T16:37:00.000-08:00

Farmer's Market... El Segundo

November sale numbers were similar to those of October for most of the Beach Cities. While the number of sales was relatively consistent prices were all over the map. The hardest hit city in the Beach Cities was North Redondo. After months of not much action, ***North Redondo got clobbered by short sales beginning in September. Sellers dropped prices drastically hoping to finally get the attention of lenders who didn't appear to be in any rush to approve a sale.

The tactic seemed to work... There are currently 61 pending sales in North Redondo with inventory at 79 properties for sale. The final figures for December 2011 will be out next week but so far lenders may be cooperating as they also would like to see a number of these properties close escrow soon rather than later.

Th rest of the Beach Cities... El Segundo, Hermosa, Manhattan and South Redondo are seeing sale numbers holding at consistent levels and prices flat or moving downward slightly.

South Bay-Beach Cities: Sold November 2011

*** Conforming loan limits declined from $729,750 to $625,000 as of October 1, 2011. Most lenders stopped making loans at those limits around the end of August.

Manhattan Beach Snapshot: Sold November 2011

2011-12-31T13:30:00.000-08:00

Manhattan Beach Home and Townhome Closed Sales November 2007-2011

Manhattan Beach Home/Townhome prices November 2007-2011

What a year for Manhattan Beach Real Estate with enough ups and downs to keep us on our toes. Next week the final closed sales for December will be posted but so far the numbers are similar to those for 2010.

Single family Home prices in Manhattan Beach managed to creep up a bit in November compared to the median price last November. Townhome and condos sales didn't fare as well.   The trend continues with sale numbers moving up while prices stay flat or slightly down from previous years.

Inventory is at the lowest level in along time with 61 single family homes and 27 townhomes/condos on the market.    New construction is minimal with just a few builders taking the plunge while the majority are still waiting to see what the new year will bring.

Manhattan Beach: Sold November 2011

3011 Johnston Ave. Redondo Beach... New Price

2011-12-09T18:33:00.001-08:00

3011 Johnston Ave Redondo Beach

New Price... now $799,000

Hard to find... Home plus legal Guest house on a large lot
Don't miss this rare opportunity to own a single family home and a permitted guest house on an oversize lot in the TRW tract of North Redondo. ... The main house is an 1860 sq ft 2 bedroom 1.5 baths with large family room, huge dining room and remodeled kitchen and baths.. The guest house is a charming 300 sq + studio with remodeled bath.

This home is the ideal solution if you are looking for a place for parents, grown children or a separate office area. The terrific home is on an 8300+ sq ft lot that has alley access... The possibilities are endless....

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

South Bay-Beach Cities: Sold October 2011

2011-11-30T22:15:00.001-08:00

Riviera Village... Redondo Beach

As the economy continues to slip and slide it's no real surprise that housing is still in a state of flux. October is always a slow month in the Beach Cities. With the exception of El Segundo, the number of sale in each South Bay-Beach City was very similar to the numbers from October 2010. Prices however were bouncing around like crazy with North Redondo showing the biggest declines and Manhattan Beach showing an increase.

About the time it seems the housing market in the Beach Cities is beginning to stabilize something happens to send it back down the road. This month the culprit maybe be a combination of a lower conforming loan limit ($625,500 down from $729,750) combined with an increase in the number of short sales. North Redondo has been hit the hardest by short sales that are pushing down home prices. Older townhomes are really taking a beating on price as owners try to get the bank to approve a short sale.

Lower prices and low interest rates are making North Redondo a hot market right now. Buyers are snapping up units at prices not seen a long time. Multiple offers on townhomes in North Redondo are becoming the norm rather than the exception. November could be a very interesting month....

South Bay-Beach Cities: Sold October 2011

Manhattan Beach Market Snapshot: Sold October 2011

2011-11-29T13:00:00.000-08:00

Manhattan Beach: Sold October 2011

Manhattan Beach Strand and Bike Path

October has never been a great month for home sales in Manhattan Beach and this year is no exception.. While the sale volume was down slightly from last year... 24 properties in 2011 compared to 26 in 2010.. The median price was up in 2011 ... homes: $1,480,000/Townhomes $ 1,185,000 compared to homes $1,180,000/Townhomes $ 1,000,000 in October 2010. In fact the median price was the highest since 2007.

Financing is a factor... October was the month that conventional loan limits dropped from $729,750 to $625,000 which may explain why there were on 16 home sales. However townhome sales were higher than normal so maybe financing was just a small issue.

So what do the numbers really mean.. not much... The real estate market is still bouncing around. Last month there were 25 closed home sales in September 2011 with a median of $1,150,000 and 5 Townhome sales with a median of $765,000. When you use small samples the mix affectes the median price a lot. What is interesting is that the total number of sales has been fairly consistent year over year.

Consistency is one of the hallmarks of a market that is relatively stable. This doesn't mean prices have not gone down or that the number of sales isn't down from peak years. But it may indicate that even with the poor economy, Manhattan Beach is a relatively stable market.. You can of course speculate on the whys and whats of real estate in Manhattan Beach and all the Beach Cities forever and still wind up with a lot of numbers that are probably not nearly as important as people think..

Manhattan Beach: Sold October 2011

Manhattan Beach-Beach Cities: Holiday Events December 2011

2011-11-29T11:42:00.000-08:00

Fun Christmas/ Holiday events in the South Bay Beach Cities....December 2011 Schedule by City

It's that special time of year..... we put lights on houses .... ornaments on trees..... and little kids know that magic is real. I love the Holiday Season..... Many homeowners in Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo do some fabulous light displays and Christmas/Holiday decorations. El Segundo and other cities have whole neighborhoods of homes that bring visitors from near and far to see the wonderful winter wonderland displays.

While Santa wants to visit every house in the Beach Cities... like many of us today... budget issues are making it harder this year... Santa won't be able take his sleigh through Redondo Beach but you can visit with him at Anderson Park and Alta Vista Park.  There are many celebrations in the Beach Cities including Tree lighting and Pier lighting in our communities. Don't miss the El Segundo Holiday Parade... it's just so much fun.

Our little Beach towns have retained their unique Holiday traditions. If you want to know what's happening in the Beach Cities during the Holidays... just scroll down and you will find the major activities for Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo. It's a wonderful time of year... Oh and be sure to stop by the Gift Wrap in the Manhattan Mall... I'll be there .. so stop and say Hello..

Manhattan Beach:



December 2,3,4, 2011  The Sandpipers will hold their annual Holiday Home Tour in Manhattan Beach and Hermosa Beach. The tour runs from 10:00 am to 5:00 pm. For information call (310) 374-1748

Saturday December 10- Thursday December 24... . The Neptunian Woman's Club will be Gift Wrapping at the Mall... proceeds go toward scholarships for Manhattan Beach students and the fees are tax deductible. Psssst..... We will wrap any gift ... not just ones bought at a Mall store.... See you at the Mall.....

Sunday December 11, 2011... Manhattan Beach Fireworks Show .... At the Pier...Entertainment starts at 4:00..

Santa starts his rounds  November 28, 2011.. and he will be looking for good little girls and boys until December 15, 2011..   Santa starts his route every evening at 5:30 with the exception of December 12, 2011 when the float is parked in Manhattan Village  from 6:00- 7:00 pm.

Nov. 28: Starts at 19th St and Ardmore Avenue, Pacific, Manhattan Beach Boulevard, and Valley Drive.

Nov 29: Starts at Blanche Road and 24th Street, 45th St, Ocean Drive, Marine Avenue, Grandview Avenue and the western City limits..

Nov.30: Starts at Blanche and 26th St, Rosecrans Avenue, Pacific Avenue, Marine Avenue, Bell Avenue.
.
Dec. 1: Starts at 23rd St and Wendy Way, Marine Ave., Manhattan Beach Blvd, Redondo Avenue and Aviation Blvd,.

Dec. 2: Starts at Marine and John Street. Ardmore Avenue, Sepulveda Blvd.,Manhattan Beach Blvd., Pacific Avenue.

Dec. 5: Starts at  Second and Peck... Second Street, Aviation Blvd, Artesia Blvd and Peck Avenue.

Dec. 6: Starts at Second Street and Rowell Avenue. Second Street, Meadows Avenue, Artesia Blvd. and Sepulveda.

Dec. 7: Starts at Dianthus and 11th Street. Manhattan Beach Blvd., Sepulveda Blvd., southern city limits and Ardmore Avenue.

Dec. 8: Starts at 6th and Meadows. Eighth Street, Aviation Blvd., Second Street, Sepulveda Blvd..

Dec. 9: Starts at 8th Street and Johnson Avenue. Manhattan Beach Blvd, Aviation Blvd, Eighth Street and Sepulveda Blvd.

Dec. 12: From 6 to 7 p.m., the Santa float will be parked at the main pool of Manhattan Village. Starts at 7 p.m. at 18th Street and Redondo Avenue. Marine Avenue, Redondo Avenue,Manhattan Beach Blvd., and Rowell Avenue.

Dec. 13: Starts at Meadows Avenue and Manhattan Beach Blvd. Marine Avenue, Rowell Avenue, Manhattan Beach Blvd. and Sepulveda Blvd..

Dec. 14: Starts at Pacific Avenue and Valley Drive. Rosecrans Avenue, Sepulveda Blvd. Ardmore Avenue and Pacific Avenue

Dec. 15: Starts at Ingleside Avenue and First Street. Marine Avenue, Grandview Avenue, 24th St, 25th St, Ardmore Avenue, southern and western city limits

Wednesday December 21, 2011... The Lighting of the Chanukah Menorah ... Manhattan Beach Mall.... 5:30 pm

Photos with Santa: Manhattan Beach Mall
Santa arrives Nov. 25 and stays until Dec. 24.
Mon to Sat: 11a.m. to 8 p.m
Sun: 12:00 to 6 p.m.,
The Web site above has a list of packages and prices.

Saturday evening... December 24, 2011... T'was the night before Christmas and all through the house.... You know the rest...

Hermosa Beach:

December 2,3,4, 2011  The Sandpipers will hold their annual Holiday Home Tour in Manhattan Beach and Hermosa Beach. The tour runs from 10:00 am to 5:00 pm . For information call (310) 374-1748

Thursday December 1, 2011... Hermosa Beach Tree Lighting... 6:00 at the Pier

Saturday December 10, 2011 Second Annual Snowfest.....10:00 am - 9:00 pm
The Snowfest will feature the tree lighting, music, and the arrival of Santa.

In Hermosa Beach Santa  will visit on at The Gum Tree at 238 Pier Avenue on December 2, 2011 from 5-9 pm and on December 5, 2011 from 10:00 am - 4:00 pm...

Santa and his helpers will visit Hermosa neighborhoods on Wednesday December 7 and Dec. 14.

The sleigh will spend 20 minutes at each stop, where Santa will take photos with residents waiting to meet him.

Santa's Schedule:

December 7, 2011

6 to 6:20 p.m.: 18th Street and Valley Park Avenue.
6:30 to 6:50 p.m.: 25th Street and Silverstrand Avenue.
7 to 7:20 p.m.: 30th Street and Morningside Drive.
7:30 to 7:50 p.m.: 23rd/24th streets and Hermosa Avenue (west side of the street).
8 to 8:20 p.m.: 500 block of 11th Street.
8:30 to 8:50 p.m.: Pier Plaza.

December 14, 2011

6 to 6:20 p.m.: 2000 block of Hillcrest Avenue.
6:30 to 6:50 p.m.: 1100 block of 19th Street.
7 to 7:20 p.m.: Golden Street between 15th and 16th streets.
7:30 to 7:50 p.m.: 1100 block of Eighth Street.
8 to 8:20 p.m.: Fifth Street and Hermosa Avenue.
8:30 to 8:50 p.m.: Pier Plaza.

Saturday evening... December 24, 2011... T'was the night before Christmas and all through the house.... You know the rest...

December 26, 2011: Lighting of the Chanukah Menorah Greenwood Park.. (Windmill at Aviation/PCH ) 6:00 pm

Redondo Beach:

Thursday December 1, 2011 ... Riviera Village Holiday Stroll...6:00-10:00 pm. Come and hear carolers, see fun street performers ... and meet Santa

Tuesday December 6, 2011...The 31st annual Tree Lighting ... The Civic Center... 415 Diamond Avenue...5:00 pm



Saturday December 10, 2011.....   King Harbor Boat Parade...Free..
                                                        Along the harbor inner sea wall 5:30 PM

Santa Visits Redondo:   Santa has two visits scheduled....
Saturday Dec 10, 2011... Alta Vista Park from 4-8 pm

Saturday Dec 17, 2011... Anderson Park from 4-8 pm

Tuesday December 20, 2011... Hanukkah... The lighting of the Menorah... Civic Center415 Diamond Ave. 5:30 pm
Saturday  December 24, 2011 ... T'was the night before Christmas and all through the house.... You know the rest...

El Segundo:

Thursday December 8, 2011... The Annual Tree Lighting... and craft boutique at City Hall Plaza 300 Main Street 3:00 pm-7:00 pm

Saturday December 10, 2011 - December 23, 2011... Candy Cane Lane lights up:
1200 block of East Acacia Avenue in El Segundo ( Corner of Acacia and California) 6:30- 7:00 pm

Sunday December 11, 2011.....1-3pm .. Holiday Parade.. Main Street.. from Imperial Highway to El Segundo Blvd.. (310) 322-1220 Santa's sleigh...

Santa's will visit Dec. 12-16, starting on the west side of the city. Santa will work his way east to Sepulveda Boulevard each night. Police cars with lights, sirens, and music playing will signal Santa's arrival on your block.

His sleigh takes off at 5:15 p.m and stops at 9:00 p.m.

Santa's schedule:

Dec. 12: West end of the city east to Loma Vista Street.
Dec. 13: Loma Vista Street east to Main Street.

Dec. 14: Main Street east to Sheldon Street.

Dec. 15: Sheldon Street east to Center Street.

Dec. 16: Center Street east to Sepulveda Street.

In case of rain, a make-up day is scheduled for Dec. 19. For an updated schedule, visit http://www.elsegundopoa.org/.

Thursday Dec. 22, 2011: Lighting of the Chanukah Menorah... 5:30 City Hall

Saturday Dec. 24, 2011: Chanukah on Ice at 6:15 pm Toyota Sports Center 555 N. Nash St

Saturday December 24, 2011 ... T'was the night before Christmas and all through the house.... You know the rest

If you have an event you would like to add... just e-mail me and I will add it to the list....

Holiday Gift Wrap at Manhattan Village Mall... 'Tis the Season....

2011-11-28T10:53:00.001-08:00

Get all your Holiday and December birthday gifts wrapped at the Manhattan Beach Mall..

Are you gift wrapped challenged? Do you have a lot of gifts to wrap? Are you so busy that you don't need one more thing to do? If you answered YES to any of these then let me offer you a solution.

The Neptunian Woman's Club of Manhattan Beach will wrap all your holiday gifts.. whether you bought them at a Mall store or made them at home. We'll wrap one gift or one humdred and the fee is tax deductible.

This is one of our largest fund raisers of the year. Proceeds go toward scholarships for Manhattan Beach students. Each year we give academic scholarships to local students in Art, Music, Literature, Fashion Design, Nursing and for women who go into Police work.

The Neptunian Woman's Club is the oldest Woman's club in Manhattan Beach. We were the driving force that got the city incorporated, the library system started and opened Pacific school. These are just a few of the things we have done over the years as part of our philanthropic services for the City of Manhattan Beach. You will find us at the Hometown Fair, the Pier Lighting, the Santa Float, the Fireworks on Sunday and at the Manhattan Beach Mall wrapping away.

Bring us your gifts and we'll make your life easier..... Remember...Big or small... we'll wrap them all.. and it's tax deductible..

** We will be wrapping from December 10-24, 2011...

Manhattan Beach-Beach Cities....Happy Thanksgiving

2011-11-24T09:10:00.001-08:00

Happy Thanksgiving

The last few years have been hard ones ... We are constantly bombarded with bad economic news, terrorist plots and other events that seem to jump at us on a daily basis. Thanksgiving is a time to take a break and think about all the good things we have in our lives. These are some of the things I am thankful for in my life.....

Manhattan Beach-Beach Cities: FHA Loan Limits increased to $729,750

2011-11-18T18:28:00.001-08:00

In a move calculated to make many of us shake our heads with wonder, Congress passed a bill today that will increase the loan limits for FHA loans to $729,750 while it left the conforming loan limit backed by Fannie and Freddie at $625,500.

To add to the confusion they decided that while they won't increase the conforming loan limits back to $729,750, they will lower the required down payment from 10% to 5%.

FHA has a lot of interesting quirks that are not found with conforming loans... including MMI. Conforming loans have tougher guidelines for the borrower to qualify for a loan. FHA only requires a 3% down payment. I know there are issues with Fannie and Freddie but higher limits with tougher standards make more sense to me than lowering standards on conforming loans and increasing loan limits on FHA...

Somedays it seems not only does the right hand not know what the left is doing but that they may not even be part of the same body. Is it any wonder housing continues to be such a problem.

Redondo Beach Open House: New price...3011 Johnston Ave Open Sat Nov 12, 2011 1-4 pm

2011-11-11T23:28:00.001-08:00

Open House 3011 Johnston Ave Redondo Beach

Saturday November 12, 2011...1-4 pm

New Price... now $809,000

Hard to find... Home plus legal Guest house on a large lot
Don't miss this rare opportunity to own a single family home and a permitted guest house on an oversize lot in the TRW tract of North Redondo. ... The main house is an 1860 sq ft 2 bedroom 1.5 baths with large family room, huge dining room and remodeled kitchen and baths.. The guest house is a charming 300 sq + studio with remodeled bath.

This home is the ideal solution if you are looking for a place for parents, grown children or a separate office area. The terrific home is on an 8300+ sq ft lot that has alley access... The possibilities are endless....

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

Manhattan Beach: The Koffee Kart gone.... Oh No...Say it isn't so!

2011-11-05T20:28:00.000-07:00

Dear George Loren,

Say it isn't so... No Koffee Kart in Manhattan Beach... how can that be?

The Koffee Kart was one of the last "local" places in town.. Unlike Uncle Bill's it was a little off the path for most visitors. Even on Sunday morning you could get a table after a short wait. It was my favorite place to eat breakfast.

Over the years not much changed.... It was small with cozy booths, just right for reading the paper while waiting for breakfast. The food was always good and the staff friendly. My friends and I would walk Sunday mornings and then stop by for breakfast before heading home.

All of us were upset about the fire and have been patiently waiting for the sign to read OPEN once again.... I walked by a few days ago and things were looking good... so I was stunned to learn that you won't reopen at the Koffee Kart home.

Please find a new spot and reopen soon.. Fans of the Koffee Kart will be waiting to hear the news. Over the years we have lost a number places in Manhattan Beach that many of us remember fondly and miss. I really hope the Koffee Kart doesn't become one more memory of Manhattan Beach.

I'm hoping for good news soon....

A loyal fan

P. S. The Hibachi found a home in Hermosa... not quite the same as the old place but darn close... So I know there's a spot waiting for the Koffee Kart near the beach... just like before but maybe a little different....

Redondo Beach Open House Saturday Nov 5, 2011 3011 Johnston Ave. Open 1-4 pm

2011-11-04T10:38:00.000-07:00

Open House 3011 Johnston Ave Redondo Beach

Saturday November 5, 2011...1-4 pm

Hard to find... Home plus legal Guest house on a large lot
Don't miss this rare opportunity to own a single family home and a permitted guest house on an oversize lot in the TRW tract of North Redondo. ... The main house is an 1860 sq ft 2 bedroom 1.5 baths with large family room, huge dining room and remodeled kitchen and baths.. The guest house is a charming 300 sq + studio with remodeled bath.

This home is the ideal solution if you are looking for a place for parents, grown children or a separate office area. The terrific home is on an 8300+ sq ft lot that has alley access... The possibilities are endless....

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

$819,000

South Bay-Beach Cities: Sold September 2011

2011-10-26T07:49:00.000-07:00

Beach Cities: Homes and townhomes sold in September 2011

North Redondo 2 on a lot Townhome

September is always a tough month for real estate sales in the South Bay-Beach Cities. This September was no exception. The good news is that the number of sales was up for Hermosa Beach and South Redondo over 2010 and just slightly less in North Redondo, Manhattan Beach and El Segundo.  The bad news( for sellers) and good news (for buyers)  is that prices were down in almost all the Beach Cities.

Much of the decline in price levels is due to short sales. In the last two weeks North Redondo is posting significantly lower prices for a number of REO's and short sale 2 on a lots and buyers are waiting in line to purchase at the new price levels.   Another significant factor is that many owners want to sell before the end of the year and have realized that they need to cut their asking price now to be sure escrow closes by the end of the year.

But before everyone gets excited a lot has been happening this week that may change the picture a bit. The Administration announced yesterday their new plan for refinancing properties of homeowners who  owe more than their home is worth .   But as all programs put forward by the government there are a few hitches in their get along so read the fine print carefully before you get too excited.

   If all goes as the administration hopes folks will be refinancing right and left. In fact banks will be so busy with refi's they might not be able to deal with buyers who want to purchase a new home. Dan Green the author of The Mortgage Reports has written an interesting article on why interest rates may be headed upward in the future.

South Bay-Beach Cities: Sold September 2011

Manhattan Beach Market Snapshot: Sold September 2011

2011-10-24T21:44:00.000-07:00

Manhattan Beach homes and townhomes Sold September 2011

Flowers along The Strand in Manhattan Beach

September is the odd month when it comes to closed sales. September sales reflect figures from the end of July and August. August is usually the slowest month for sales as folks take the last vacation of the summer and scramble to outfit everyone for the new school year.

While total home and townhome sales for September(34) were near those of 2010(37) and higher than the figures for 2007(31), 2008(29) and 2009(26).... the median price was significantly lower than any year since 2003.

I've been having an interesting online discussion with a reader about what is a distressed property. While we don't quite agree on the precise definition of distressed properties, I think we are in agreement that this is a distressed market in all parts of the South Bay-Beach Cities. The question is whether or not the Manhattan Beach real estate market will become more distressed or if it will remain more on the flat side with little movement.

Currently I see roughly 20%-25% of the Manhattan Beach properties that are for sale as distressed which I think is better than the numbers found in many communities in Southern California. My reader sees the market as closer to 38% of the available properties as distressed. But then we have different definitions of what constitutes a distressed property. My definition is based on the financial situation of the owner while my Reader believes that there are other items that make a property distressed.

It has been over 4 years since the housing market took a major dive and there doesn't seem to be much happening to change the situation. The boys in DC don't have a clue as they scramble to come up with something... anything.. to make the housing problems go away. They can't seem to figure out that if you want the housing maket to stabilize you are going to have to make it easier, not harder for people to buy. I'm not talking about reverting to the old programs that got us in this mess. What I'm talking about is sensible guidelines that work on the consumer's behalf. These guys are so busy grandstanding and posturing they have forgotten the basics.... making a loan to someone with good credit and cash for a downpayment who wants to buy a home.

Manhattan Beach Market Snapshot: Sold September 2011

Open House 3011 Johnston Ave Redondo Beach

2011-10-17T11:28:00.000-07:00

Saturday October 22 , 2011...1-4 pm

Hard to find... Home plus legal Guest house on a large lot
Don't miss this rare opportunity to own a single family home and a permitted guest house on an oversize lot in the TRW tract of North Redondo. ... The main house is an 1860 sq ft 2 bedroom 1.5 baths with large family room, huge dining room and remodeled kitchen and baths.. The guest house is a charming 300 sq + studio with remodeled bath.

This home is the ideal solution if you are looking for a place for parents, grown children or a separate office area. The terrific home is on an 8300+ sq ft lot that has alley access... The possibilities are endless....

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

$819,000

Beach Cities: Sold June, July August 2011

2011-09-28T23:25:00.000-07:00

Home Sales for Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo for June, July and August 2007-2011..

If you are confused about where the housing market seems to be headed... you have lots of company! Even the experts can't seem to get a handle on what is happening.. In fact the same story can be seen from different points of view... check out the LA Times and the Daily Breeze headline views of August home sales.

The graph above for home sale volume in Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo for June, July and August 2007-2011 indicates some very mixed messages. Manhattan Beach, the most expensive of the Beach Cities, had more sales in the summer of 2011 than in 2007 as did El Segundo. South Redondo sales are fairly stable while Hermosa and North Redondo saw sale volume declines.

This is a very interesting time in our local real estate market. Prices are down and in many sub areas are still looking for some sign of stability. Inventory is down across the board with the exception of Hermosa Beach where inventory rose by 4 properties since mid September. Interest rates are still hovering around 4.2% for a 30 year fixed rate loan. 5 year adjustables are 2.75% for conforming loans ( $625,500 or less). Finley Taylor from US Bank reports Jumbo loan rates are slightly higher at 4.875% with 0 points up to a $1,250,000 loan max... significantly below the 7%-8% we thought was amazing just a few years ago.

For buyers at the entry level in the Beach Cities the combination of low rates and falling prices mean it may be cheaper to buy than to rent. I have 2 clients who are closing escrows this month who are paying less on their mortgage than they were paying in rent. This isn't true at all price points but definitely at the entry level.

Beach Cities: Sold June 2011

Beach Cities: Sold July 2011

Beach Cities: Sold August 2011

Manhattan Beach Homes: Sold June, July August 2011

2011-09-19T00:18:00.000-07:00

Summer home and townhome sales in Manhattan Beach held up well compared to previous years. Overall sales volume for 2011 is the highest since 2007 with 306 homes and townhomes sold between January 1, 2011 and September 15, 2011. Home prices however are another matter.

Manhattan Beach home prices for entry level properties under $1,000,000 have been relatively consistent since last year but prices above that range are still searching for stability. As the recession continues with little sign of abating anytime soon and the stock marketcontinues its wild ride, many financially stable homeowners are begining to feel the pinch of lower economic expectations. For some that means fewer vacations and nights out but for others it may mean they need to sell and either purchase a smaller home or perhaps rent for awhile until the economy begins to look better.

Manhattan Beach real estate prices have definitely declined in the last few years although not by as much as many had predicted. Prices still seem to be in flux for much of the market although not by the percentages seen in previous years. The big question for both buyers and sellers is whether Manhattan Beach real estate prices are approaching the bottom of the market or are there still more price cuts ahead.

Manhattan Beach Market Snapshot: Sold June 2011

Manhattan Beach Market Snapshot: Sold July 2011

Manhattan Beach Market Snapshot: Sold August 2011

Fiesta Hermosa... The end of summer.....

2011-09-02T23:46:00.000-07:00

You know it's the end of summer when Fiesta Hermosa is back for the Labor Day weekend. I love this mix of art and kitsch... it's just so Hermosa and so beachy. The Fair runs Saturday through Monday.

Shuttle buses run from 7:30 am to 7:30 pm from Northrup Grumman at Manhattan Beach Blvd and Doolittle Drive. Street parking is very limited so go early if you want to drive you car.. and be aware that parking meters are only good for a few hours. Putting in extra money won't save you from a ticket if you are over the hour limit..

The Fiesta Hermosa bike valet program is why a bike ride down the Strand might just be the best way to get to the festivities. You can ride your bike, and park in the guarded lot on the sand just south of the Hermosa Pier. Hermosa Cyclery will valet park your bike and offer air for tires and on-site diagnostic checkups while you enjoy the festival. The lot is open from 10 a.m. to 6:30 p.m. daily. Check http://www.patch.com/ for more info.

Manhattan Beach-Beach Cities Real Estate: New law on installing carbon monoxide detectors

2011-08-14T14:45:00.001-07:00

The State of California recently enacted a new statue concerning the installation of carbon monoxide detectors in 1-4 residential units. The Carbon Monoxide Poisoning Prevention Act of 2011 states that every owner of a dwelling unit intended for human occupancy must install an approved carbon monoxide device in every unit having a fossil fuel heater or appliance, fireplace or attached garage.

Carbon monoxide poisoning is one of the leading causes of death in the home. Carbon monoxide is a colorless and orderless gas that not only causes serious health problems but can kill you. The detectors are similar to smoke detectors and will alert occupants if carbon monoxide gas is present.

The regulations call for all single family homes, townhomes or condos to have the detectors installed as of July 1, 2011. All other types of residential dwellings have until January 1, 2013 to install the mandated detectors. The law requires all properties to have carbon monoxide detectors installed by the above dates whether or not the home is being sold.

The detectors must be centrally located outside of each separate sleeping area in the immediate vicinity of the bedrooms. The detector should be located at least 6 inches (152mm) from all exterior walls and at least 3 feet (0.9 meters) from supply or return vents. The detectors must also be on every level including basements within which fuel-fired appliances are installed and in dwelling units that have attached garages.

The devices are required on properties that are owner occupied and on properties that are tenant occupied. There are fines for non-compliance. The regulations also allow for a stronger form of the law to be passed by individual cities... so don't be surprised to see tougher requirements in some of our local Beach Cities .

Redondo Beach Open House... New Price: 3011 Johnston Ave Open Sunday August 7, 2011

2011-08-05T09:02:00.000-07:00

Open House 3011 Johnston Ave Redondo Beach

Sunday August 7, 2011...1-4 pm

New Price... $819,000

Owner has made changes and updates... come by and take a look...
New half bath, inside laundry area, new carpet, paint and lots more.. click on the tour below to see changes...

Don't miss this rare opportunity to own a single family home and a permitted guest house on an oversize lot in the TRW tract of North Redondo. ... The main house is an 1860 sq ft 2 bedroom 1.5 baths with large family room, huge dining room and remodeled kitchen and baths.. 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. The terrific home is on an 8300+ sq ft lot that has alley access... The possibilities are endless....

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

$819,000

Manhattan Beach House Saturday August 6, 2011 Open 1-4 1450 Manhattan Beach Blvd #D

2011-08-05T08:43:00.000-07:00

1450 Manhattan Beach Blvd # D, Manhattan Beach..

Open Saturday August 6, 2011 1-4 pm

$469,000

Manhattan Beach address for a North Redondo Beach price!

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...This sunny upper floor 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..

$469,000

Manhattan Beach-Beach Cities... Conforming loan limits going down

2011-07-25T13:12:00.000-07:00

On October 1, 2011 a lot of folks in the Manhattan Beach-Beach Cities real estate market are going to be very upset. That is the day the FEDS have targeted to lower the conforming loan limit from the current $729,750 to $625,000. The downward shift in the conforming limits isn't just going to affect buyers but also homeowners who have been waiting to refinance their existing loans.

If you haven't filled out loan documents by August 15, 2011 you may not be able to take advantage of the current conforming limits for your loan. In fact Bank of America is no longer making conforming loans over $625,000 even thought the official cutoff date is September 30, 2011.

So how will the decrease in conforming limits affect you?

Manhattan Beach-Beach Cities Homeowners:
Many homeowners have been waiting to see how low interest rates will go before they refinance to take advantage of lower rates. If you purchased your home a few years ago with a loan amount of $729,750 and want to refinance... DO IT NOW! If you wait and your loan amount is over $625,000 you will have to take out a jumbo loan which may have tougher guidelines and will certainly have a higher interest rate.

South Bay-Beach Cities Buyers:
For many buyers in the Manhattan Beach-Beach Cities the lower loan limits mean they are going to have to get a jumbo loan to buy the same property they could have purchased a few months ago with a conforming loan or come up with a significantly higher down payment. That means tougher qualifying guidelines and a slightly higher interest rate. As an example;e a buyer looking at a $900,000 purchase price today would be able to purchase with 20% ($180,000) down and a loan of about $720,000. When the conforming limits change a buyer would need to come up with slightly more than 30% ($275,000) down for a conforming loan of $625,000 to purchase the same property.

There are a lot of folks trying to get the FEDS to leave conforming levels where they are for at lease another year for the higher priced areas of the country. However I don't think it will happen. There is a bit of good news. More lenders willing to make jumbo loans are stepping into the market. Also the difference in rates for conforming and jumbo are fairly close... conforming fixed are about 4.6%-4.75% and jumbo rates are 5.125%-5.5%. However that could change if Congress doesn't stop playing King of the Hill with each other and the administration.

The boys in D.C. lament the fact that housing continues to be an issue in most of the country, yet they can't seem to understand that much of the fault lies at their doorstep. There is a new guideline/rule/formula change every few months as the government tries to put the horse back in the barn that burned down. If the folks in D.C. want to see housing markets make a comeback they need to leave the process alone for awhile and let things settle. Ultimately local real estate markets will find their way through the muddle if folks aren't waiting on a daily basis to see what the next new thing will be.

Redondo Beach Open House: Open Sunday July 24, 2-4 pm 3011 Johnston Ave.

2011-07-22T09:53:00.000-07:00

Open House 3011 Johnston Ave Redondo Beach

Sunday July 24, 2011...2-4 pm

Owner has made changes and updates... come by and take a look...
New half bath, inside laundry area, new carpet, paint and lots more.. click on the tour below to see changes...

Don't miss this rare opportunity to own a single family home and a permitted guest house on an oversize lot in the TRW tract of North Redondo. ... The main house is an 1860 sq ft 2 bedroom 1.5 baths with large family room, huge dining room and remodeled kitchen and baths.. 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. The terrific home is on an 8300+ sq ft lot that has alley access... The possibilities are endless....

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

$839,000

Manhattan Beach condo: Cheap and Cheerful!

2011-07-21T11:31:00.000-07:00

1450 Manhattan Beach Blvd # D, Manhattan Beach..

New Price!

$469,000

2011 Happy July 4th!

2011-07-04T07:52:00.000-07:00

July 4, 2011 Fireworks shows in the South Bay-Beach Cities...

A number of cities have either cut back or cut out July 4th celebrations because of the lack of revenue... You can still find a few cities that will be celebrating the holiday with fireworks!

El Segundo:

The fireworks show starts at 9:00.. get there early to get a good seat!

Redondo Beach:

The show starts at the end of the pier at 9:00. Parking is at a premium and will cost a litle money this year...so go early.

South Bay-Beach Cities: Sold May 2011

2011-07-02T15:53:00.000-07:00

Classic South Redondo Beach Home

Real estate sales in all the Beach Cities are down and much slower than last year at this time. Buyers remain unsure about where the economy is headed. The reports that come out of Washington are mixed.. one day the news is great and the next not so hot....

I was reading an article this morning that puts some interesting perspective on the "economic recovery". The article notes that it has been 2 years since the recession ended but not much has changed in the overall economic picture.

While real estate values in the South Bay -Beach Cities have held up better than in other parts of Los Angeles County we have seen values decline. The current market seems to be on the flat side but that could change in October when the conforming loan limits drop from the current $729,250 to $625,000. Home prices have declined but losing $100,000 on conforming loan limits will have an effect on how buyers perceive the market... even if the effect is more perception than reality.

While the difference might not be felt as much in Manhattan Beach or Hermosa Beach, it will affect the Redondo Beach and El Segundo real estate markets as entry level prices are lower. Currently the difference in interest rates for a jumbo vs a conforming rate is not a large amount but qualifying guidelines may well be a factor. If you have a loan over $625,000 that you are planning to refinance now is the time to talk with your lender.

Beach Cities: Sold May 2011

Manhattan Beach Market Snapshot: Sold May 2011

2011-06-28T17:50:00.000-07:00

Manhattan Beach Market Snapshot May 2011

May sales figures leave no doubt that the volume of sales is down from last year at this time. While the number of sales isn't off much ... 45 homes and townhome sales in May 2010 vs 37 homes and townhomes sold in May 2011... in our small real estate market 8 sales makes a difference.

Tougher loan guidelines and regulations, consumer concerns about employment and the overall economy are making many buyers skittish about where the market is headed. The boys in D.C. continue to complain about the housing market while they issue guidelines and rules that make it much harder to get a loan than it was in pre 2002.

While buyers in our local Manhattan Beach real estate market generally have the financial qualifications to purchase a home, they are still leery about what is happening in the economy both locally and nationally.

I think most buyers can expect prices on Manhattan Beach homes to remain flat with minor ups and downs in the various subareas. I really don't think we will see any major price declines and certainly no increases for sometime. As long as the economic outlook remains uneven real estate sales will continue to be sluggish even in Manhattan Beach.....

Manhattan Beach : Sold May 2011

Redondo Beach Open House: 3011 Johnston Ave Open Saturday June 25, 2011 1-4 pm

2011-06-23T12:10:00.000-07:00

Open House 3011 Johnston Ave Redondo Beach

Saturday June 25, 2011...1-4 pm

Owner has made changes and updates... come by and take a look...
New half bath, inside laundry area, new carpet, paint and lots more.. click on the tour below to see changes...

Don't miss this rare opportunity to own a single family home and a permitted guest house on an oversize lot in the TRW tract of North Redondo. ... The main house is an 1860 sq ft 2 bedroom 1.5 baths with large family room, huge dining room and remodeled kitchen and baths.. 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. The terrific home is on an 8300+ sq ft lot that has alley access... The possibilities are endless....

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

$839,000

Manhattan Beach: Open House Sunday June 19, 2011

2011-06-18T17:01:00.000-07:00

1450 Manhattan Beach Blvd # D, Manhattan Beach..Open House

Open Sunday June 19, 2011 1-4 pm

Check out the New Price... $479,000

Manhattan Beach address for a North Redondo Beach price!

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..

$479,000

South Bay-beach Cities Real Estate: Short Sales.. Finally... a lender who gets it

2011-06-02T12:49:00.000-07:00

If you have a negative amortizing / pick-a-pay loan issued by Wachovia, World Savings or Golden West Bank and are having difficulties making payments or the home is upside down in value... you might be in for some good news.

A few years back when banks were taking over the world, Wachovia Bank was one of the most aggressive. They took over Golden West and World Savings and Loan. These institutions all had one thing in common.... they all pushed negative amortizing loans. The loans had a number of names but the most popular was pick-a-pay.. You decided every month how much you wanted to pay and if the payment wasn't fully covered then the negative amount was added to the loan balance... Needless to say the crash of 2007 put a stop to these loans but many were not phased out until 2008.

In 2008 Wachovia merged with Wells Fargo Bank. Similar to the Countrywide / Bank of America merger, many people questioned the acquisition and the added financial pressure it brought to Wells. The merger along with a few other items forced the ouster of Wells CEO John Stumpf.

Fast forward to 2011... the toxic loan scandal has pretty much run its course with a lot of causalities along the way. Short sales and foreclosures are common in all markets and parts of the country. Banks are getting a bit better in the way they handle short sales but as unemployment continues on the high side and the housing recovery fails to happen there are still a lot of short sale properties on the market.

Despite pleas from the State and National government officials for banks to get it together and make short sales easier not much has changed in the last 5 years. But that may be about to change.

Wells/Wachovia has about 50,000 properties in LA and Orange County that have negative amortizing loans. These loans were generated by Wachovia, World Savings, and Golden West from about 2004-2008. Most of the loans have balances in excess of the property value. The bank did some number crunching and realized that almost all of these loans will wind up in foreclosure... which is going to cost them a lot of money.

They decided to do something smart and cut their losses. They are ready to do short sales on all these properties with a minimum of paperwork. There are some rules and guidelines but the unlike the rules for most short pays the bank will do a short sale on owner occupied, second homes, and homes that have become rentals. You can be current on the payments. In other words they want to get all the negative loans off the books.

There are a few rules:

1. The property needs to be listed by a real estate company and it has to have a legitimate buyer with a written contract of sale. ( You can start the process without a buyer but the bank ultimately wants the property sold)

2. You need to contact the bank immediately and fill out a 1 page form( You read that right... a 1 page short form is all that is required to start things rolling... there is almost no paperwork)

3. The loan has to have been made by Wachovia, World Savings or Golden West. It must be a negative amortizing loan. ( While Wells Fargo owns Wachovia they are not extending this policy to loans made by Wells Fargo or for loans that are not negative amortizing )

The bank will follow HAFA guidelines. They will give relocation funds to the seller for moving expenses. If you have a lot of assets they may require you to sign a note but otherwise they are going to give you a release of the deficiency in writing ( which means your credit won't take as big a hit and you can get a new loan in 2-3 years).

Wachovia says they are ready to roll on these loans.. so if you have one and have been trying to figure out how to get out from under this may be the solution. Contact Wachovia and your agent to find out more...

***Photo courtesy of Jeff Turner

Memorial Day... May 2011

2011-05-27T14:06:00.000-07:00

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.

South Bay-Beach Cities: Sold April 2011

2011-05-27T12:46:00.001-07:00

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.

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

Manhattan Beach: Market Snapshot Sold April 2011

2011-05-15T10:58:00.000-07:00

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

Selling your Manhattan Beach-Beach Cities home....First impressions are important!

2011-05-11T13:11:00.000-07:00

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.

1450 Manhattan Beach Blvd #D MB.....Open Sunday May 15, 2011 1-4 PM.. Major $$ Reduction!

2011-05-09T19:17:00.000-07:00

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

South Bay-Beach Cities: Sold March 2011

2011-05-03T18:42:00.000-07:00

New Construction Redondo Beach: May 2011

The 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

Manhattan Beach:Market Snapshot: Sold March 2011

2011-04-27T22:07:00.000-07:00

Single family homes sold in Manhattan Beach March 2007-2011

March 2011 saw the most closed sales of single family homes for the month of March since 2007. 34 homes and 9 townhomes are not record shattering numbers but they are better than we have seen in early spring for quite awhile.

In an historic news conference today the Federal Reserve Chairman Ben Bernanke told the country that the Fed would continue their current economic policies. For home owners and home buyers that translates into continued low mortgage rates. While that may have been welcome news to many there are still a number of areas in the economy that are a little sketchy making most folks a tad nervous about just where the economy is headed.

That said folks are still buying and selling houses... just not as many as they did in the boom years. Generally Manhattan Beach and the Beach Cities have survived the worst of the downturn. Prices continue to bounce around. and will no doubt do so through the end of the year. Location and condition are the big factors in our local Manhattan Beach real estate market.

Desirable homes in A+ locations are finding buyers at record prices. A few weeks ago a Strand home quietly sold off market for $12,000,000 which is significantly higher the the price posted for 1600 The Strand which closed at $10,900,000 earlier this month.

A few builders are testing the waters. Construction loans are still difficult to obtain so don't expect to see large numbers of new homes popping up soon. However you can expect that when some of the new spec homes reach the market later this year or spring of next year they will find ready buyers who want new construction.

Manhattan Beach: Sold March 2011

Redondo Beach: 8300+ sq ft lot... Build Your Dream Home

2011-04-14T20:17:00.000-07:00

3011 Johnston Redondo Beach....
Home plus permitted guest house on an 8300+ sq ft lot...

Don't miss this rare opportunity to own a single family home and a permitted guest house or build a new home on an oversize lot in the TRW tract of North Redondo. ... 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. The lot is over 8300 square feet with street to alley access.

The possibilities are endless.... keep the current property configuration if you need a place for parents or an office. Update and remodel to suit your needs... or build a new home with a 3 car + garage and still have room for a pool and spoirt court...

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

$839,000

Manhattan Beach Zip at Redondo Beach price!

2011-04-13T10:37:00.000-07:00

Manhattan Beach March 2011

Manhattan Beach address for a North Redondo Beach price!

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..

$524,750

Redondo Beach: Open House 3011 Johnston Ave Saturday April 2... 2-4 pm

2011-04-01T23:27:00.000-07:00

Open Saturday April 2, 2011...2-4 pm

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

Don't miss this rareopportunity to own a single family h ome and a permitted guest house on an oversize lot in the TRW tract of North Redondo. ... 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. The terrific home is on an 8300+ sq ft lot that has alley access... The possibilities are endless....
This is a wonderful mid-Century home with a definite Palm Springs resort feel...

$839,000

Manhattan Beach-Beach Cities: "As Is- Fixer properties" Going ... Going.. Gone!

2011-03-23T19:18:00.000-07:00

A few months ago I posted about some of the issues I'd had with the appraisal on a fixer property I sold in Manhattan Beach.   Lenders and appraisers have tightened guidelines on property standards to the point that "fixer homes" may be a thing of the past. I'm not talking about homes that need kitchens and baths updated with granite counters or wainscot on the dining room wall. I'm talking fixers... where everything needs help.

For years one of the basic tenents of real estate was that buying the worst property in the best neighborhood was a smart thing to do. Sweat equity would bring major benefits to those who were handy with a saw and hammer.  Those days may be gone.

I have a home that will soon be on the market in East Manhattan. It is a trust sale so there will not be any major updates to the property. However new paint, carpet and landscaping along with minor repairs will not be inexpensive. Through the grapevine a number of folks have heard about the home and have expressed interest in buying before we start work. The kicker is that as the owners tore out the old carpet and started some termite work on the exterior, so it may not appraise unless they paint and put in new carpet... even though a new buyer will likely rip out the carpet and repaint the interior and exterior.

I understand the issues involved from the bank and appraiser's viewpoint. What happens if the lender makes a loan and the owners do nothing? The bank made a large investment on a home that is not in good shape and if the loan goes sour they will have to try and sell a "fixer". The lender will need someone to blame and that means pointing fingers at the appraiser if they don't call out the condition of the home.

There are still a number of homes that are headed to foreclosure where the owners have not made payments for many months or in some cases years. It is not uncommon for these owners to take out as much as they can from the home including doors, windows, floor coverings and even light switch plates. Most banks don't want to be in the business of fixing up properties in order to get them on the market. But that is what they may have to have to do with these places if no one can get a loan on them in their "as is " condition.

The only folks who will be able to purchase "fixers" will be those with a lot of cash who can purchase without obtaining a loan. That means more homes will be going to investors who want to flip the property rather then to buyers who want to occupy the home. The banks are again creating a situation that may not be in anyone's best interests over the long run. Sometimes the things banks do just don't make much sense.

If you are thinking about selling your home and were going to list it as a fixer you might have to rethink that plan or be prepared to wait for someone with all cash... and that could be a long wait.

Beach Cities: Sold January/ February 2011

2011-03-21T17:31:00.000-07:00

Manhattan Beach March 2011

As usual January and February were slow months for closed sales. Also as usual new inventory was scarce. As we ease in to March closed sales are on the rise and inventory is up slightly. Much of the increase in inventory are homes that went off market over the holidays and are now back hoping to find a buyer.

While rumors of shadow inventory are widespread we are not seeing any major increases in the South Bay Beach Cities. Agents are networking in hopes of finding properties that are fresh to the market before they are posted on the MLS.

Prices are bouncing around like Yo-yos. Homes that are priced right are receiving multiple offers while those that are not at market value remain on the market until the price reaches a level buyers deem to be correct . Sales at the entry level for all market areas continue to be brisk with many homes and townhomes closing escrow at prices well over the list price.

Buyers still tend to lack a sense of urgency. As long as rates remain on the low side and inventory somewhat stable most buyers don't mind continuing to search for property. Buyers who are writing offers are very specific about they want and often have been looking for a very long time. Many are realizing that prices may be about as low as they are likely to be in the Beach Cities and are willing to buy now.

Sellers are finding this is not the time to test the waters. Prices are flat at best and over priced homes tend to sit and soon become old news if the price is not adjusted quickly. Even with all the ups and downs of the market, our local Beach Cities real estate market continues to fare better then other parts of the county and state. Buyers waiting for huge discounts in prices in the Beach Cities have been disappointed.

Beach Cities: Sold January 2011

Beach Cities: Sold February 2011

Manhattan Beach-Beach Cities: Is your furnace a fire hazard?

2011-03-10T11:30:00.000-08:00

If you missed the article on page 4 in the Daily Breeze this morning about the furnace fire in a Manhattan Beach home, you can read it here. Fortunately no one was hurt but the damage to the house was estimated to be about $60,000, which is a lot more then the cost of a new furnace.

The furnace was one of a number manufactured by Consolidated Industries that had been recalled in 2001. The furnaces were sold in California between 1984 to 1992. They were sold under a variety of names( see list below). They were horizontal furnaces that were made for attic and crawl space installation. They were made to sit directly on the floor instead of on a platform.

The issue with them is that they did not meet California air quality standards. so the manufacturer decided to "fix" the problem by installing NOx rods. The concept sounded good but unfortunately the company failed to test them after the alteration. Turns out that with the installation of the NOx rods the furnaces could become highly combustible. After approximately 140,000 fires associated with the furnaces, lots of lawsuits and the manufacturer seeking Chapter 7 bankruptcy , the furnaces were finally recalled in 2001.

While there were a number of articles in newspapers about the recall there apparently was no way to send out notices to consumers who actually purchased these furnaces as they were marketed under so many different brand names. There are a number of homeowners who have no idea about the danger these furnaces pose. Many of these furnaces are not discovered until the home sells and an inspection is done as part of the sale.

If you have a furnace that in not in a vertical position in a closet then you should check to see if it is one of the recalled furnaces. If you are not sure call in a licensed furnace company to check for you. Depending on the brand of furnace you have you may receive a new furnace free and just pay for installation or your home insurance may pay part of the cost. If neither of these options are possible then consider this.... A new furnace that might cost $3000 is a lot cheaper than fire damage that is $60,000.

Recalled Furnace Brands and Serial Numbers:

Manhattan Beach: Sold January, February 2011

2011-03-08T11:17:00.000-08:00

Manhattan Beach Bike Path March 2011

Manhattan Beach home sales for January and February 2011 are in and it's a mixed bag for the Manhattan Beach real estate market. January 2011 sales were lower than those in January 2010 but February 2011 sales were higher than February 2010. January and February sale figures are usually lower then other months as they reflect sales at the end of the year.

Pending sale numbers are looking better with 49 homes and 18 townhomes/condos currently in escrow. A few of these may not make it through the process to closing but most of the homes currently in escrow will find new owners.

Despite all the troubles in the Middle East we do appear to be inching our way out of the recession. One of the major differences between this recession and others is that housing will likely be the last area to emerge from the doldrums rather then one of the first.

Coastal cities in California seem to be doing better than other areas of the state. While prices are certainly not headed up they do appear to be starting to stabilize in Manhattan Beach ( see charts for sales 2001-2010) and the Beach Cities.

Manhattan Beach: Sold January 2010 vs January 2011

Manhattan Beach: Sold February 2010 vs February 2011

Manhattan Beach: Sold Homes January-June 2001-2010

Manhattan Beach: Sold Homes July-December 2001-2010

Manhattan Village Plan l : New Listing.. 25 Catalina CT

2011-02-16T13:36:00.000-08:00

25 Catalina CT. Manhattan Village

Terrific opportunity to buy a Manhattan Village Plan 1 Courthome at a great price.

This Courthome is in original condition and is waiting for a makeover. If you love to remodel this is your opportunity to bring your creativity and make this your "own".

$669,000

Property is shown by appointment only so give me a call (310) 721-7438 or send me an email...

South Bay-Beach Cities: Sold 2007-2010

2011-01-30T10:28:00.000-08:00

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

2011-01-30T00:05:00.000-08:00

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

2011-01-17T11:40:00.000-08:00

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....

2011-01-14T10:07:00.000-08:00

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

2011-01-12T14:57:00.000-08:00

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

Happy New Year... My thoughts on Manhattan Beach-Beach Cities Real Estate in 2011

2010-12-30T15:27:00.000-08:00

As this year is ending it seemed like a good idea to review my 2010 New Year post on our local real estate markets. I was happy(make that relieved) to see that I had been right more often then wrong about where I thought the 2010 market was headed. So with that in mind I'm gong to share my thoughts again...

After all the hoopla from the media and government all year, the reality is that not much changed. Unemployment is still high nationwide and in California. Consumer confidence goes up and down on a monthly basis. The FEDS and our state continue to run massive deficits and think the deficit fairy will somehow make it all go away with a wave of her wand and no pain for anyone.

Foreclosure issues continue because the government doesn't understand that most of the people in trouble can't be saved. You can modify loans and have foreclosure holidays but the chances of people in major financial trouble holding onto their homes without jobs is nil. It's hard to make a house payment if you don't have a job. At some point the process will have to reach the bitter end before things can get better.

The fascination with shadow inventory continues but somehow that inventory never makes it to the market. Originally the term referred to bank REO's but recently I read that the term now includes everyone who might want to sell a home they haven't yet put on the market.... which doesn't make much sense as owners are always thinking about putting their homes on the market if the price is right.

Credit markets remain shaky. The interdependence of worldwide markets and our markets makes for some strange bedfellows. Lou Barnes has an interesting take on where we have been and where we might be going. The FEDS tossed billions at credit institutions with no requirement that they actually use the money to make loans. Consequently it is harder for consumers to get loans or refinance. Folks who own small businesses are struggling to obtain credit to keep their doors open.

Our local South Bay-Beach Cities real estate market was a bit of a mixed bag. Sales volume was down while prices bounced around.. up in some areas and down in others. The market was slow but relatively steady... Not an exciting or depressing market but rather a blah one.... which isn't necessarily bad in today's economic climate.

Closed sales January-December 2010 South Bay-Beach Cities*** Manhattan Beach had 309 single family homes and 78 townhomes close escrow in 2010. Hermosa Beach had 104 single family sales and 76 townhomes/condo sales. North Redondo had 174 single family homes close escrow and 260 townhomes. South Redondo had 95 homes and 154 townhomes/condos close escrow. El Segundo closed escrow on 58 homes and 45 townhomes.

So what will next year be like? Here's my take on where we may be headed...

I think overall unemployment in the nation and in California will dip a bit but remain high. This is going to be a tough one to change. We have to get deficit spending under control before we can hope to get the economy to improve. Unless we all agree to make some tough choices we are in for more of the same.

One of the reasons the Beach Cities have held up better then other areas of Los Angeles County is because most folks in these cities are employed. Step into almost any restaurant and they are crowded with people spending money. I was at Del Amo the week before Thanksgiving and during Christmas and folks were buying. Not as much as a few years ago but more so then last year.

I think the local real estate market in 2011 will be similar to the one in 2010. We may see a slight increase in sales volume but prices will remain on the flat side in most sub markets. Prime properties will always command a premium but not as much as in previous years.

Interest rates will bounce around... up for a few weeks then down as the markets try to determine how to price risk. If you see the word inflation in print for any length of time you can bet rates will move upward. Loans will remain difficult to obtain for those who don't have stellar credit or a steady income. Appraisals will be a source of problems for properties that are not in good shape. The appraisal process will be a little easier as the FEDS have finally set up some workable guidelines for lenders and appraisers.

Inventory is down in all the Beach Cities as many properties have sold in the last 2 months. Manhattan Beach has 101 homes and townhomes currently for sale. Hermosa has 64, North Redondo 106, South Redondo 97 and El Segundo 40. Watch the Spring market sales as an indication of where the market may be headed. If inventory bumps up dramatically we will be in for another slow year as consumers will feel no urgency about the market.

So that's it for my thoughts as we say farewell to 2010 and hello to 2011....

Wishing you all a Happy and Healthy 2011!

***There will be a few more sales posted after the first of January

Manhattan Beach-Beach Cities: Home loans... the good, the bad and the ugly...

2010-12-29T16:42:00.000-08:00

Interest rates continue to be at all time lows... even as they bounce up and down like an old time YoYo. Long term mortgage rates seem to have taken on a life of their own. The speculation was that if the FEDS would again purchase mortgage backed securities, home loan rates would continue to be low and stable... but like many government plans the devil is in the details or rather the bond markets.

I have clients who got loans over the last few months from 4.25%-5.5% depending on down payment, loan lock date and dumb luck. Current rates for jumbo conforming loans are hovering around 5% for a 30 year fixed with 20% down and a 760+ FICO. Jumbo loans are a bit higher but still low compared to rates a few years ago.

The current market is very much like the one we saw at the end of 2009. Rates are still good and inventory is slowly disappearing. Prices are flexible with some sub areas showing increases in value, others decreases but most market area prices are on the flat side.

On December 13, 2010, Fannie Mae instituted new mortgage guidelines for consumers looking to purchase or refinance a home. These new guidelines combined with tougher overall lender requirements make it harder to obtain financing for everyone.

Self employed people and those who work on a commission basis (1099 earners) will be hit the hardest by the new changes. While it has been difficult the last few years for those who were not straight salaried to obtain loans it hasn't been impossible if you had a consistent income and a lot of assets. Now that has changed as lenders weight income more heavily and downplay assets as the basis to make a lending decision. Money in the bank doesn't seem to be as important as money from a monthly check.

While I understand that asset values have seen a lot of volatility in recent years, I would think that with the high levels of unemployment continuing to plague the economy strong assets would be important. Historically lenders wanted to see good income along with assets to prove stability but that may be changing. Sometimes I think lenders may be their own worst enemy.

Banks are saying that if you are self employed you can't obtain a loan...which is silly. Many of my clients are self employed, have a lot of cash and assets but a variable income stream. The variable income is often higher on an annual basis then a borrower making a similar income but banks view these folks differently. Stated income loans made to borrowers with lots of assets were not bad loans. However stated income loans made to borrowers with fudged income and no assets were a disaster. Lenders need to learn the difference.

I can't fault lenders for only wanting to loan money to the best borrowers. However while lenders make things tougher for conforming borrowers, the FEDS have far less stringent qualifications for FHA and VA loans. On a national scale there are far more FHA and VA loans being made then conventional loans. Makes for some interesting speculation about future defaults.

South Bay-Beach Cities: Sold November 2010

2010-12-21T09:55:00.000-08:00

Manhattan Beach Pier.. December 2010

November closed sales figures were a bit disappointing but not unexpected. At just over the mid point of the month, December sales are also going to be low... although Manhattan Beach and North Redondo are on track to have more December closings then we saw in November.

Pending sales seem to be picking up in all the Beach Cities which means January and February closings may be fairly respectable. North Redondo, which was really slow for the last two months, seems to have found a number of buyers with 68 pending sales. El Segundo has 20 pending sales, Manhattan Beach 50, Hermosa Beach 25 and South Redondo 34. It is very common for a number of properties that have been on the market for awhile to find buyers at the end of the year as both buyers and sellers often have to make a deal before year end.

2010 has been an interesting year... interest rates have not been this low in 50 years but the low rates are not pushing sales as they might have done in years past. This market has no sense of urgency for most buyers. Prices are bouncing around... up in some sub markets and slightly lower in others. What is fascinating is that the markets can change quickly... areas that were hot are suddenly cold and those that were cold suddenly find themselves with lots of potential suitors. A few builders may be putting their toes back in the water which is not good news for entry level buyers.

South Bay-Beach Cities: Sold November 2010

Beach Cities: Sold November 2009 vs Nvember 2010

Christmas/Holiday Events in the South Bay-Beach Cities December 2010

2010-12-02T14:35:00.000-08:00

Fun Christmas/ Holiday events in the South Bay Beach Cities....December 2010 Schedule by City

It's that special time of year..... we put lights on houses .... ornaments on trees..... and little kids know that magic is real. I love the Holiday Season..... Many homeowners in Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo do some fabulous light displays and Christmas/Holiday decorations. El Segundo and other cities have whole neighborhoods of homes that bring visitors from near and far to see the wonderful winter wonderland displays.

Santa seems to find a way to visit every home... on every street... in every neighborhood in Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo right up to Christmas Eve. We have Tree lighting and Pier lighting in our communities. Don't miss the El Segundo Holiday Parade... it's just so much fun.

Our little Beach towns have retained their unique Holiday traditions. If you want to know what's happening in the Beach Cities during the Holidays... just scroll down and you will find the major activities for Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo. It's a wonderful time of year... Oh and be sure to stop by the Gift Wrap in the Manhattan Mall... I'll be there .. so stop and say Hello..

Manhattan Beach:



December 3,4,5, 2010  The Sandpipers will hold their annual Holiday Home Tour in Manhattan Beach and Hermosa Beach. The tour runs from 10:00 am to 5:00 pm. Tickets start at $25. For information call (310) 374-1748 ext. 6#

Monday December 6, 2010   5:30 pm   Chanukah Lighting of the Menorah

Thursday December 9, 2010 : 5:00 pm North Manhattan Beach ( El Porto) Holiday Open House and Walk About

Saturday December 10- Thursday December 24... 9:00 am - 9:00 pm.. The Neptunian Woman's Club will be Gift Wrapping at the Mall... proceeds go toward scholarships for Manhattan Beach students and the fees are tax deductible. Psssst..... We will wrap any gift ... not just ones bought at a Mall store.... See you at the Mall.....

Sunday December 12, 2010... Manhattan Beach Fireworks Show .... At the Pier...Entertainment starts at 3:00.. fireworks at 6:30 pm

Santa starts his rounds  November 29, 2010.. and he will be looking for good little girls and boys until December 16, 2010..   Santa starts his route every evening at 5:30 with the exception of December 14, 2009 when the float is parked in Manhattan Village  from 6:00- 7:00 pm and finishes that evening at 9:00 pm. .

Nov. 29: Starts at 19th St and Ardmore Avenue, Pacific, Manhattan Beach Boulevard, and Valley Drive.

Nov 30: Starts at Blanche Road and 24th Street, 45th St, Ocean Drive, Marine Avenue, Grandview Avenue and the western City limits..

Dec. 1: Starts at Bell and 36th St, Rosecrans Avenue, Pacific Avenue, Marine Avenue, Bell Avenue.
.
Dec. 2: Starts at 23rd St and Wendy Way, Marine Ave., Manhattan Beach Blvd, Redondo Avenue and Aviation Blvd,.

Dec. 3: Starts at Manhattan Beach Blvd and Oak Street. Ardmore Avenue, Sepulveda Blvd.,Manhattan Beach Blvd., Pacific Avenue.

Dec. 6: Starts at Redondo and Mathews Avenues... Second Street, Aviation Blvd, Artesia Blvd and Peck Avenue.

Dec. 7: Starts at Second Street and Rowell Avenue. Second Street, Meadows Avenue, Artesia Blvd. and Sepulveda.

Dec. 8: Starts at Dianthus and 11th Street. Manhattan Beach Blvd., Sepulveda Blvd., southern city limits and Ardmore Avenue.

Dec. 9: Starts at 6th and Meadows. Eighth Street, Aviation Blvd., Second Street, Sepulveda Blvd..

Dec. 10: Starts at 8th Street and Johnson Avenue. Manhattan Beach Blvd, Aviation Blvd, Eighth Street and Sepulveda Blvd.

Dec. 13: From 6 to 7 p.m., the Santa float will be parked at the main pool of Manhattan Village. Starts at 7 p.m. at 18th Street and Redondo Avenue. Marine Avenue, Redondo Avenue,Manhattan Beach Blvd., and Rowell Avenue.

Dec. 14: Starts at Meadows Avenue and Manhattan Beach Blvd. Marine Avenue, Rowell Avenue, Manhattan Beach Blvd. and Sepulveda Blvd..

Dec. 15: Starts at Pacific Avenue and Valley Drive. Rosecrans Avenue, Sepulveda Blvd. Ardmore Avenue and Pacific Avenue

Dec. 16: Starts at Ingleside Avenue and First Street. Marine Avenue, Grandview Avenue, 24th St, 25th St, Ardmore Avenue, southern and western city limits

Photos with Santa: Manhattan Beach Mall
Santa arrives Nov. 26 and stays until Dec. 24.
Mon to Sat: 11a.m. to 8 p.m
Sun: 12:00 to 6 p.m.,
The Web site above has a list of packages and prices.

Santa Pet Photos...
Manhattan Village Mall.. Friday DEcember 10, 2010 1-5 pm Cats and dogs only and on a leash

Breakfast with Santa...

Register at the Manhattan Village Concierge for the opportunity to win breakfast with Santa at Coco's Bakery & Cafe (on Dec. 20). Applicants must be between the ages of 3-12. 12 Total winners will be selected. One entry per person. Registration ends December 14, 2010

Friday evening... December 24, 2010... T'was the night before Christmas and all through the house.... You know the rest...

Hermosa Beach:

December 3,4,5, 2010  The Sandpipers will hold their annual Holiday Home Tour in Manhattan Beach and Hermosa Beach. The tour runs from 10:00 am to 5:00 pm tickets start at $25. For information call (310) 374-1748

Saturday December 11, 2010 First Annual Snowfest.....10:00 am - 9:00 pm
The Snowfest will feature the tree lighting, music, and the arrival of Santa.
There will be a free movie on Pier Plaza and a snow hill on upper Pier Avenue... There is a little confusion

In Hermosa Beach Santa  will visit on December 8th and December 15, 2010.. He will be at each stop for about 20 minutes...

Dec. 8 Parade Route

6 to 6:20 p.m.: Monterey Boulevard and 10th Street.

6:25 to 6:45 p.m.: Hermosa Avenue and Sixth Street.

6:50 to 7:10 p.m.: Manhattan Avenue and Second Street.

7:15 to 7:35 p.m.: 900 block of Third Street.

7:40 to 8:00 p.m.: Sixth Street and Prospect Avenue.

8:05 to 8:25 p.m.: Hillcrest and 21st Street.

Dec. 15 Parade Route

6 to 6:20 p.m.: Power and 21st streets.

6:25 to 6:45 p.m.: 25th Street and Silverstrand Avenue.

6:50 to 7:10 p.m.: 30th Street and Morningside Drive.

7:15 to 7:35 p.m.: 20th Place and Prospect Avenue.

7:40 to 8:00 p.m.: 15th and Golden streets.

8:05 to 8:25 p.m.: Bonnie Brae and 14th streets.

Friday evening... December 24, 2010... T'was the night before Christmas and all through the house.... You know the rest...

Redondo Beach:

Thursday December 2, 2010 ... Riviera Village Holiday Stroll...6:00-10:00 pm. Come and hear carolers, see fun street performers ... and meet Santa

Tuesday December 7, 2010...The 29th annual Tree Lighting ... The Civic Center... 415 Diamond Avenue...5:00 pm

Tuesday December 7, 2010... Hanukkah... The lighting of the Menorah... Civic Center415 Diamond Ave. 5:30 pm


Saturday December 11, 2010 .....   King Harbor Boat Parade...Free..
                                                        Along the harbor inner sea wall 5:30 PM

Santa Visits Redondo: Beginning Monday November 30, Thursday December 17, 2009 Santa will visit all the boys and girls in Redondo Beach. Click for Maps

North Redondo:

Monday November 29, 2010: Route 1: This is a two part route. Start Part 1 at Johnston
and Beland, Go N/B and cover area Between Johnston and Dow, then Gibson
and 159th, 160th to Beland and end Part 1 – go dark to the start of Part 2. Start
Part 2 at Warfield / Vail, continue westbound Warfield to Aviation Bl. End Part 2 &
entire route.

Tuesday 11-30-10: Route 2: Start at Vail and Timothy. May and Pinckard.
Then triangle area south of Beland to Robinson. Barkley, Gibson, Perkins,
Carlsbad…etc. South on Inglewood (dark) to Robinson, Robinson westbound to
Aviation. (see map). Note DARK streets on map

Wednesday 12-01-10:   Route 3: Start at Plant and Vail, go W/B. to Green, then
right to Perry and E/B on Perry to Rindge. Left and go to Ernest, go W/B to
Aviation, then right and E/B on Farrell to Vail. Left turn and W/B on Bataan to
Aviation, then right and E/B on Dufour to Vail. End route at Vail / Warfield.

Thursday 12-02-10: Route 4: Begin at Curtis and Aviation, E/B to Perkins,
then left and W/B on Gates to Aviation. Right on Aviation to Graham, then E/B to
Perkins. End at Perkins / Robinson.

Friday 12-03-10: Route 5: Aviation and Mathews, E/B to Perkins, then left and
W/B on Nelson. Make a left at Aviation Wy, a right at Mathews to Aviation, then
right on Aviation to Ruhland. E/B on Ruhland to Perkins, then W/B on Voorhees
to Aviation.

Saturday 12-04-10: Route 6: Start at Ruxton and Rockefeller and go W/B to
Aviation Wy. Turn right and come E/B on Carnegie to Ruxton. Turn left and W/B
on Vanderbilt to Aviation Wy. ….

Sunday 12-05-10: Route 7: Start at Clark and Harkness, go E/B Clark to
Ripley. North on Felton then W/B on Harriman to Harkness, and E/B on
Huntington to Ripley.

Monday 12-06-10: Route 8: Start at Flagler and Armour, go W/B to Harkness,
RIGHT, then right to Spreckels and E/B to Ripley. Go left and come back W/B on
Havemeyer. Turn left on Flagler and go to Spreckels then right to Harkness, right again to Morgan and go E/B to Blossom. Then left to Speyer and come back W/B on Speyer to Harkness. Make a right and go to Pullman. Go E/B on Pullman to Ripley, then right on Ripley to MacKay. Turn right on MacKay and turn left onto Belmont W/B Belmont to Harkness.

Tuesday 12-07-10: Route 9: Start at Harper and Palm and go N/B. travel to
Artesia. Then back and forth on Steinhart, Goodman, Stanford, Ford, Reed,
Herrin, Carver, Wollacott and Axenty.

Wednesday 12-08-10: Route 10: Start at 190th and Pruitt, go to Armour and
travel E/B to Firmona. Make a left and come back W/B on Spreckels to Pruitt.
Right to Fisk and E/B to 190th, then right and another right on Firmona. Go N/B to Alvord and stop for a few minutes, then go to Ralston and W/B to Pruitt. Make a left at Pruitt and come back E/B on 2500-2600 Alvord. Go left at Inglewood Av.
Left again at Ralston, then right on Felton. At 185th St, turn left to Pruitt, then right to 184th, and E/B on 184th across Inglewood to Firmona. Go right to 185th and W/B on 185th back to Felton. Go N/B to 183rd, and E/B to Firmona, then W/B to Felton on 182nd Pl, and back E/B on 182nd St to Inglewood.

Thursday 12-09-10: Route 11: Start at 190th and Green, go N/B to Ripley,
then right and back S/B on Cluster. Make a left at 190th to Blossom, then N/B on
Blossom to Havemeyer, E/B on Havemeyer to Rindge. Go right to service road at
190th, and make a left. Go to Earle and do each of the Courts. Then E/B on
Ripley to Meyer. Right on Meyer. Left on 190th to Phelan, N/B on Phelan to Fisk,
then W/B to High, right and back E/B on Alvord. Go right to Lilienthal. Make a U turn at the park and come back N/B to Ralston. Go W/B on Ralston to Meyer,
then right and back E/B on Hill to Lilienthal. W/B on Ives, and E/B on Hadley.
Take Lilienthal, Ripley to Marshallfield W/B to Harkness.

Friday 12-10-10: Route 12: Start at Amethyst and Harkness, Turn left on 190th
and go west to Goodman, turn right, then W/B on Lomax to Prospect. Turn right
to Van Horne, then E/B Van Horne to Harkness. Make a left then W/B on Armour
to Reynolds. Continue to do 1600-1700 blks to Speyer, then do Harper to
Aviation, Steinhart back to Belmont, then N/B Goodman to Aviation. Come back
on Stanford to Belmont and N/B Ford to Aviation.

South Redondo:

Saturday 12-11-10: Route 13: Start at RBPD and go N/B on Broadway to
Catalina, back S/B on Elena to Carnelian. Make a left and take PCH, then make
a left on Beryl and do Francisca. North on Catalina. Then S/B on PCH to
Diamond. Turn left on Diamond and go to N. Gertruda. Go N/B on Gertruda to
Carnelian. Make a right, go to Guadalupe, then S/B to Diamond. Make a left, to
Irena, then N/B on Irena to Agate. Right turn to Juanita, then S/b on Juanita to
Del Amo. Turn left and go to Lucia. N/B on Lucia to 190, turn right and come
back S/B on Maria to Del Amo. Then N/B on Paulina to 190th. St.

Sunday 12-12-10: Route 14: Start at RBPD, go S/B on Broadway to Torrance
Bl, then E/B Torrance to S. Francisca. Go N/B to Vincent Park, then right, come
back S/B on Guadalupe, to Torrance, then left to Helberta and back N/B to
Vincent, then right to Irena, S/B to Torrance, then left and back N/B on Juanita to Vincent. Come back S/B on S. Lucia to Torrance.

Monday 12-13-10: Route 15: Start at Broadway and Torrance go S/B to Knob
Hill, then N/B on Elvira to Sapphire. Turn right and cross PCH on Sapphire to
Knob Hill, turn right and come back to Gertruda. Go N/B to Pearl, then left to
Francisca, left again to PCH. Then left onto Sapphire, this time go to Helberta
and go left to S. Irena, come back S/B on S. Irena. Left on Serpentine, then left
again on S. Juanita to Camino Real.

Tuesday 12-14-10: Route 16: Start at Pearl / Susanna. S/B Susanna, turn
corner to Faye & continue Faye N/B to Pearl. Go Dark, Prospect to Torrance,
left to Lucia, left. S/B Lucia to Rita, right on Rita W/B to Juanita, N/B Juanita to
Torrance. Dark on Torrance W/B to Irena. Irena S/B to Judy, right turn Judy
N/B to Pearl. Pearl W/B to Camino Real, N/B to Miramar. Miramar W/B to
Francisca, N/B to Sierra Vista E/B. End Sierra Vista/Camino Real. Note: advise
families on Opal & Pearl to meet Santa on Lucia, Juanita, or Irena!

Wednesday 12-15-10: Route 17: Start at Ave G / PV W/B to PCH, then E/B
on Ave F to PV. W/B on Ave E, make a right on Ave D to S/B Gertruda, then
back on Helberta to Ave D., S/B on S. Irena (Do Ave D as you are going back
and forth on Gertruda, Helberta and Irena). Take PV to Prospect and do the 1000
blk Ave D, then W/B on Ave C back, including 1000 block, then E/B on Ave
B(including 1000 block), then Ave A(1000 block) to PCH. Take Knob Hill to
Camino Real.

Thursday 12-16-10: Route 18: Start at S. Irena and PV Bl, go east to 1400
blk, then back to W/B on Helberta to PV, then E/B on S. Gertruda go to Messina
and Circle Drs. Then W/B on Ave E to Pv, and E/B on Ave F to Prospect. Then
W/B Ave G to PV. Then S/B on PV to Catalina. Turn and immediately take the
left to Camino de la Costa. Go W/B on Paseo de la Playa, come back E/B on
Vista del Mar, then N/B along the 1700 Blk of Camino de la Costa to Ave I. Make
a left and to go the Esplanade. Go DARK N/B Esplanade to Knob Hill.
Continue route E/B Knob Hill to PCH, S/B PCH to Avenue A, W/B to Esplande.
Continue Avenue A to Avenue H, alternating East & West on the Avenues
(always S/B PCH and S/B Esplanade). End Route at Avenue H and PCH.

Make up Days: Friday 12/17; Saturday 12/18; and Sunday 12/19

Photo with Santa:

The Galleria:
(310)371-7546

Dec. 6, 2010 -Dec. 24, 2010 Level 1

Friday December 24, 2010 ... T'was the night before Christmas and all through the house.... You know the rest...

El Segundo:

Thursday December 9, 2010... The Annual Tree Lighting... and craft boutique at City Hall Plaza 300 Main Street 3:00 pm-7:00 pm

Saturday December 11, 2010 - December 23, 2010... Candy Cane Lane lights up:
1200 block of East Acacia Avenue in El Segundo ( off Imperial) 7:00 pm

Sunday December 12, 2010.....10:00 am .. Holiday Parade.. Main Street.. from Imperial Highway to El Segundo Blvd.. (310) 322-1220 Santa's sleigh...

Santa's will visit Dec. 13-17, starting on the west side of the city. Santa will work his way east to Sepulveda Boulevard each night. Police cars with lights, sirens, and music playing will signal Santa's arrival on your block.

His sleigh takes off at 5:15 p.m and stops at 8:45 p.m.

Santa's schedule:

Dec. 13: West end of the city east to Loma Vista Street.
Dec. 14: Loma Vista Street east to Main Street.

Dec. 15: Main Street east to Sheldon Street.

Dec. 16: Sheldon Street east to Center Street.

Dec. 17: Center Street east to Sepulveda Street.

In case of rain, a make-up day is scheduled for Dec. 20. For an updated schedule, visit http://www.elsegundopoa.org/.

Friday December 24, 2010 ... T'was the night before Christmas and all through the house.... You know the rest

If you have an event you would like to add... just e-mail me and I will add it to the list....

South Bay-Beach Cities: Sold September-October 2010

2010-11-14T08:57:00.000-08:00

As the holidays approach sales are slowing down in the South Bay- Beach Cities of Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo.

Pending sales seem to holding strong with 64 pending sales in Manhattan Beach, 31 in Hermosa, 67 in North Redondo, 40 in South Redondo and 15 in El Segundo. However as we near the middle of the month closed sales are on the low side.

Hermosa Beach, South Redondo and El Segundo had about the same number of closed escrows for the last two months. Manhattan Beach and North Redondo saw roughly a 25% reduction in the number of sales from September to October.

Seasonal sales are usually down this time of year and continue to be slow until March when the Spring selling season begins. This year however we have seen a number of regulation changes from the Feds in July and there are new changes scheduled for December . These changes along with tough lender requirements have affected home loan financing on conventional ($729,750-) and jumbo loans. The best jumbo loans (over $729,750) are still usually found with direct lenders. Interest rates continue to decline and are expected to remin low as long as the FED infuses cash into the system.

Lender and appraisal issues are still the main reasons homes fall out of escrow. Folks are buying homes but banks are making it difficult for them to close escrow. Buyers and sellers have to be very patient especially with the holidays coming up. If you are considering a purchase and have to close before the end of the year you really need to be on top of every request from the lender and get the paperwork moving quickly.

Manhattan Beach Open House Sunday Nov. 14, 2010: 1450 Manhattan Beach Blvd.. New Prices.. Open 1-4 pm

2010-11-11T08:43:00.000-08:00

Check out the new new prices!

1450 Manhattan Beach Blvd.... Unit C and Unit D, Manhattan Beach CA:

Open House Sunday November 14, 2010 from 1-4 pm..

Don't miss these 2 terrific condos listed under $550,000 in Manhattan Beach, CA. Both units have been updated and show like new. Each unit has a private 2 car garage, large storage room and a separatre laundry room.

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

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

Manhattan Beach: Point of sale retrofits are on the way!

2010-11-11T08:32:00.000-08:00

On Tuesday, November 16, 2010, the City of Manhattan Beach will decide whether or not they are going to require point of sale retrofits for toilets. What this means for residents is that when you sell your home you would have to either prove that you have installed a new low flush toilet ( 1.28 gallons vs current 1.6-3.5 gallons per flush)by showing a signed permit from the city or if you have not installed a new low flush toilet you would need to do so before the property closes escrow.

The interesting thing about the proposed ordinance is that the City may not be making a new toilet a requirement if you remodel a home only if you sell... which doesn't make a lot of sense. If the goal is greater conservation of water then it would seem to me that any remodeling project should also require new toilets. They are required for new construction.

I would imagine that if this requirement is approved the city will also soon implement requirements for other water saving devices at point of sale similar to those required in Santa Monica and the City of Los Angeles.

Currently Manhattan Beach is the only City with this requirement under consideration but you can bet if it goes through other local cities will also require point of sale retrofitting. The cost would likely be about $100 for a permit + the cost of the toilet and the cost to install it. I'm thinking it would run about $300-$400 per toilet.

I don't disagree with the idea that we all need to conserve more water. However I think the requirement should be part of any interior remodeling project and not just limited to point of sale if the goal is to conserve water and not a new way to raise money. If you have concerns than you should show up at the City Council meeting next Tuesday and let them know how you feel.

Manhattan Beach-South Bay-Beach Cities: The Bottom of the Market.. Are We There Yet? Part ll

2010-10-24T20:21:00.000-07:00

Yesterday the Daily Breeze had a note on the front page that median home prices in the South Bay seemed to have stabilized. The article noted that prices even seem to have risen in September 2010. Of course the problem with median price points is that they are dependent on the mix of properties that wind up closing escrow. This is especially true when the volume of sales is on the low side. If more low end then upper end homes close escrow in a given month then the median price appears to have fallen. On the other hand if more upper end homes close escrow then the median rises. Personally I don't see prices rising anytime soon.

On the same page there was an article about unemployment figures for California. More then any other single factor, employment or rather lack of employment, plays a big part in the stability of local housing markets. While state unemployment levels remain high at 12.4%, the ***local South Bay Cities that have the lowest unemployment rates also have the most stable real estatre markets.. Rolling Hills with some of the priciest property in the nation has a 2.2% unemployment rate while Hawthorne, with most homes either a short sale or foreclosure and a big decline in values, has an unemployment rate of 16.1%. It's tough to make a house payment when you don't have a job or much in the way of financial resources.

Last fall I wrote a post questioning if we had reached the bottom of the market . It seemed to me that while homes at the entry level may have found the bottom, the rest of the market remained in flux. One year later the market doesn't appear to have changed much... the entry level market in Manhattan Beach and the Beach Cities continues to remain fairly stable with a few ups and downs . The mid level in Manhattan Beach, up to about $1.6, may have found stability as has the same mid-market level in Hermosa, Redondo and El Segundo at slightly lower price points. It is important to remember that stability doesn't mean prices moving upward. Rather it means that price points are not as volatile. Prices will continue to move around... just not as much . Buyers have a better sense of market value and know when a home is priced right. This is not the time for a seller to test the market. The only thing that will get tested is their patience.

The upper levels of the market in all the Beach Cities are still seeing more movement then the lower price points. Financing or rather the vagaries of financing for the upper end are definitely plaguing the market as appraisals continue to be more problematic then qualifying issues... but that's another post.

Last year at this time sales continued to be brisk through the end of the year and into the Spring market. This year the market is much slower. Buyers continue to be cautious, even with interest rates at all time lows, as they try to figure out where the economy is headed. A few folks are predicting another market crash with prices diving an additional 25%-30% from current levels, but most buyers are not quite as pessimistic.

Inventory always tends to increase after August. The 4th quarter is typically a good time to buy as folks who have a home on the market over the holidays usually have a reason to close escrow before the end of the year. Interest rates are at an all time low but that may not be enough to spark a surge in buying in the 4th quarter this year. Until consumers feel they have a better handle on the economy even relatively stable real estate markets will be on the slow side. As always the South Bay-Beach Cities market remains a tough one to predict.

*** Unemployment figures for the Beach Cities: ...Manhattan Beach 4.5%, Hermosa Beach 5.6%, El Segundo 6.3% and Redondo Beach at 6.7%. These numbers have been relatively stable for the last year.

Manhattan Beach: It's The Great Pumpkin Race...

2010-10-23T09:35:00.000-07:00

It's that time again...The 2010 Manhattan Beach Pumpkin Race will be held at the Manhattan Beach Pier, 100 Manhattan Beach Blvd., on Sunday, Oct. 24. You can register online for $25. You can also register at the Manhattan Beach Pier on Sunday morning ($30) n from 8 to 9:45 a.m.

The 20th Annual World Famous Pumpkin Race will be held from noon to 6:30 p.m.

The Los Angeles Clippers Spirit dance team be on hand as well as The Mira Costa High School Jazz Band and the Hermosa Beach Middle School Band.

If you are not a "racer" this is still a fun event to watch... so come and cheer the pumpkins on!

For more information, contact Karl Rogers at (310) 351-1044 or check out the website www.pumpkinrace.com.

2301 Valley Dr. Hermosa Beach: Open house Sunday October 24, 2010 from 1-4 pm

2010-10-23T09:00:00.000-07:00

2301 Valley Dr, Hermosa Beach CA... New Price

Open House Sunday October 24, 2010 from 1-4 pm

Wow.. A new price makes this charming home even more inviting...Don't miss this wonderful home in the Hermosa Valley section of Hermosa Beach Ca. The home has been totally remodeled and features 5 bedrooms, 3 full baths, huge family room and a stunning kitchen. Situated on a large 5543 sq ft lot this beauty has a huge yard, large patio and wrap around west facing deck with wonderful city views. Just a short stroll to downtown, the beach, schools and the park. Homes this size on a large lots rarely come on the market... so don't miss the opportunity to view this amazing home.

$1,595,000

Manhattan Beach Open House: Open Saturday October 23, 2010 1-4 pm... 1450 Manhattan Beach Blvd Units C and D

2010-10-23T08:59:00.000-07:00

1450 Manhattan Beach Blvd.... Unit C and Unit D, Manhattan Beach CA:

Open House Sunday October 23, 2010 from 1-4 pm..

Don't miss these 2 terrific condos listed under $600,000 in Manhattan Beach, CA. Both units have been updated and show like new. Each unit has a private 2 car garage, large storage room and a separatre laundry room.

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

1450 Manhattan Beach Blvd # D Manhattan Beach CA ... $567,000

Manhattan Beach Open House: 2 great units under $600,000 Open Sunday October 3, 2010

2010-10-01T17:34:00.000-07:00

1450 Manhattan Beach Blvd.... Unit C and Unit D Open House Sunday October 3, 2010 from 1-4 pm..

Take a break from the Hometown Fair and check out these 2 terrific units listed under $600,000. Both units have been updated and show like new. Each unit has a private 2 car garage, large storage room and a separatre laundry room.

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

1450 Manhattan Beach Blvd # D Manhattan Beach CA ... $567,000

3011 Johnston Ave Redondo Beach: Open Saturday October 2, 2010 1-4 pm

2010-10-01T17:00:00.000-07:00

Open Saturday October 2, 2010 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

Manhattan Beach: Hometown Fair October 2-3, 2010

2010-10-01T16:48:00.000-07:00

Join us at the Manhattan Beach Hometown Fair... Saturday and Sunday Cctober 2-3, 2010

While there are a lot of things to love about living in Manhattan Beach.. one of the best is the Hometown Fair. The 10K race is an event for the whole community... whether you are a marathon athlete or an I can do this cuz I want a tee shirt competitor this is an event cheered by the whole community. Folks line up along the route with coffee in hand to cheer on family, friends and neighbors who are competing in the race.

After the race take a leisurely stroll through the booths filled with handcrafted items made by a number of our local residents. Then it's off to the food and games areas for the whole family. These booths are staffed by non-profit community groups who raise money for their organizations.

One of the oldest of the philanthropic groups in Manhattan Beach is the Neptunian Woman's Club of Manhattan Beach. The Neptunian Woman's Club was started in 1909 before Manhattan Beach was officially Manhattan Beach. Each year the club raises money for scholarships for Manhattan Beach students and other local charities with a number of events. This year you will find us at the wine bar and at the Chips & Salsa booth. We hope you will stop by and join us again this year as we continue our goal of providing scholarships for Manhattan Beach students and local groups who need a helping hand along with some cash.

2301 Valley Dr Hermosa Beach, CA : Open House Sunday September 26, 2010 2-4 pm

2010-09-25T18:57:00.000-07:00

2301 Valley Dr, Hermosa Beach CA...

Open House Sunday September 26, 2010 from 2-4 pm

Don't miss this wonderful home in the Hermosa Valley section of Hermosa Beach Ca. The home has been totally remodeled and features 5 bedrooms, 3 full baths, huge family room and a stunning kitchen. Situated on a large 5543 sq ft lot this beauty has a huge yard, large patio and wrap around west facing deck with wonderful city views. Just a short stroll to downtown, the beach, schools and the park. Homes this size on a large lots rarely come on the market... so don't miss the opportunity to view this amazing home.

$1,625,000

South Bay-Beach Cities: Sold June, July, August 2010

2010-09-25T18:34:00.000-07:00

Manhattan Beach-Beach Cities... Sold June, July, August 2010...

There has been a lot of discussion in the media about the housing market. Where it has been ... where it is headed and whether or not we are over the worst of the foreclosure problems that have plagued most markets. Real estate values in general have tumbled pretty much across the country... but some markets have fared better then others. While 2010 hasn't been a stellar year in the South Bay-Beach Cities of Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo... it hasn't been a total disaster either.

If you compare the summer season of 2010 to 2009 the numbers are interesting... Total sales in Manhattan Beach and North Redondo are almost identical from 2009 to 2010. On the other hand Hermosa Beach, South Redondo and El Segundo saw sales volume drop in 2010 compared to 2009.

Overall prices have declined in all the Beach Cities, with a few monthly jumps here and there in the median price depending on the mix of sales. While low interest rates are a factor they are not enticing buyers as they have done at other times. Most buyers remain very conservative in an economy that continues to be very sluggish.

August and September, as is normal, were very slow. However interest seems to be picking up in the last week, so Fall could see an increase in sales volume as prices continue to be fairly stable and rates remain low. We saw that pattern happen last year.

South Bay-Beach Cities: Sold June 2010

South Bay-Beach Cities: Sold July 2010

South Bay-Beach Cities: Sold August 2010

In the last 50 years housing was a major force that helped move the economy after each recession. However this time around housing doesn't appear to be the catalyst it has been in the past. Right now no one seems to know what can or will turn the economy in a more positive direction.

Manhattan Beach Real Estate: New Price.. 1450 Manhattan Beach Blvd. #C

2010-09-14T09:33:00.000-07:00

Affordable and Adorable... New Price!

This is the best condo for the money in Manhattan Beach!

Charming condo with lots of upgrades including new hardwood flooring in living room, granite counters in kitchen, sharp tile baths with bead board wainscot... Private laundry room and a 2 car enclosed garage with big storage room... walk to Polliwog Park, bike to the beach or shop at the Mall...

$549,000

Perfect for first time buyers who want to live in Manhattan Beach..................

Manhattan Beach: 1450 Manhattan Beach Blvd # C Open Sunday 9/12/2010 from 1-4 pm

2010-09-11T23:17:00.000-07:00

Affordable and Adorable...

This is the best condo for the money in Manhattan Beach!

Open Sunday September 12, 2010 1-4 pm
1450 Manhattan Beach Blvd # C... Manhattan Beach

Charming condo with lots of upgrades including new hardwood flooring in living room, granite counters in kitchen, sharp tile baths with bead board wainscot... Private laundry room and a 2 car enclosed garage with big storage room... walk to Polliwog Park, bike to the beach or shop at the Mall...

$559,000

Perfect for first time buyers who want to live in Manhattan Beach..................

Hermosa Beach Open House: 2301 Valley Dr. Open Sunday 9/12/2010 from 2-4 pm

2010-09-11T23:03:00.000-07:00

2301 Valley Dr, Hermosa Beach CA... Open House Sunday September 12, 2010 from 2-4 pm

Don't miss this wonderful home in the Hermosa Valley section of Hermosa Beach Ca. The home has been totally remodeled and features 5 bedrooms, 3 full baths, huge family room and a stunning kitchen.

Situated on a large 5543 sq ft lot this beauty has a huge yard, large patio and wrap around west facing deck with wonderful city views. Just a short stroll to downtown, the beach, schools and the park.

Homes this size on a large lots rarely come on the market... so don't miss the opportunity to view this amazing home.

$1,625,000

Redondo Beach Open House: 3011 Johnston Open Saturday 9/11/2010 1-4 pm

2010-09-11T09:11:00.000-07:00

Open House.. Saturday September 11, 2010 1-4 pm

3011 Johnston Redondo Beach....This is a rare find... a single family home plus 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.

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 ...

$852,500

Manhattan Beach-Beach Cities: Interest Rates... How low will they go?

2010-09-08T21:09:00.000-07:00

Manhattan Beach- South Bay Beach Cities... How low will interest rates go?

Interest rate chart... courtesy Chryste Fisher

I was talking some first time buyers at an open house last week in Manhattan Beach who wanted to know how low I thought rates would go. I'm sure I disappointed them when I said that I didn't think rates would drop much more. I think they will bounce around over the next few months, up/down a 1/4 point here and there, but that for the most part they will be fairly stable until the end of the year. However come Spring it could well be a different story as I expect rates may be on the rise next year.

In today's market interest rates are not nearly as big an issue as obtaining a loan. Stories are rampant about buyers who were told they qualified and then were denied a loan at the last moment. These are not flaky buyers with low 600 FICO scores and small down payments. These are folks with scores in mid 700's and higher with 20% down that for one reason or another wind up rejected in underwriting. One major lender is notorious for dumping buyers at the last minute.

Sometimes it's not a buyer issue. I have a property in escrow where the buyer is very strong, the appraisal came in at full price but..... the existing home had some deferred maintenance that should not have been an issue as the property was sold for land value. The new buyer plans to tear down the existing home and build a new one. The lender is aware of his plans and has checked to be sure he has the assets to rebuild. However the appraiser checked a box that the home was in poor condition. That meant the loan could not be sold to the secondary market. The seller wound up having to make repairs to the home to get it in average condition even though the home will be torn down and has no value. This was a needless expense because the appraiser decided the home was not to neighborhood standards even though it was being torn down and a home at or above neighborhood standards will be built.

To be fair the pressure is on lenders by Fannie Mae and Freddie Mac. If a lender makes a loan and Freddie or Fannie decide that the loan is going to be problematic they will make the lender buy the home back and often at a premium over the loan value. That can be very pricey for the lender and cause real problems with investors. In order to avoid any possible problems lenders are being overly cautious and making issues about things that are really non-issues.

At the same time the FEDS are considering making loans to folks without jobs so they can make payments to lenders on their mortgages. Even the boys in DC ought to realize this is a really stupid move in an economy where unemployment continues to be high with few new jobs being created in the private sector as folks continue to worry about the economy.

If a refinance is in your future now would be the time. We haven't seen rates this low since the 50's and there is no guarantee how long they will remain at this level.

3011 Johnston Ave Redondo Beach: Home + Guest house Ooen Sunday August 15, 2010 1-4 pm

2010-08-15T18:00:00.000-07:00

3011 Johnston Redondo Beach....This is a rare find... a single family home plus 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.

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

Manhattan Beach Open House: 1450 Manhattan Beach Blvd # C Open Sunday 2-4 pm

2010-08-14T17:54:00.000-07:00

Cheap and Cheerful.....

This is the best condo for the money in Manhattan Beach! If you want to live in Manhattan Beach but don't have a lot of cash... this is the place!

Open Sunday August 15, 2010 2-4 pm
1450 Manhattan Beach Blvd # C... Manhattan Beach

Charming condo with lots of upgrades including new hardwood flooring in living room, granite counters in kitchen, sharp tile baths with bead board wainscot... Private laundry room and a 2 car enclosed garage with big storage room... walk to Polliwog Park, bike to the beach or shop at the Mall...

             $559,000

Perfect for first ime buyers who want to live in Manhattan Beach..................

Manhattan Beach: New Listing Priced at $559,000

2010-07-27T21:58:00.000-07:00

1450 Manhattan Beach Blvd # C... Manhattan Beach

Charming condo with lots of upgrades including new hardwood flooring in living room, granite counters in kitchen, sharp tile baths with bead board wainscot... Private laundry room and a 2 car enclosed garage with big storage room... walk to Polliwog Park, bike to the beach or shop at the Mall...

$559,000

Perfect for first ime buyers who want to live in Manhattan Beach..................

Redondo Beach.. New listing in TRW tract

2010-07-27T21:34:00.000-07:00

Just listed 3011 Johnston Redondo Beach....

Don't miss out on this terrific home plus 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.

$859,000

No open house this weekend but join me at the Broker Open house on Thursday July 29, 2010 from 12:00-2:00 pm

Lots of Lot.. 14,000 sq ft East Manhattan Beach

2010-07-17T20:32:00.000-07:00

233 S. Meadows Ave. Manhattan Beach... Now in Escrow...

We are almost ready for prime time ... This property will be placed on MLS on Monday..

Terrific lot in good east Manhattan Beach location. This huge 14,000 lot is ideally suited for a dream home with room for pool, spa, sport court or ?

PLEASE..... DO NOT DISTURB OCCUPANTS!

Call (310) 721-7438 or email me for more information..

***Broker co-operation

612 10th St. #B, Hermosa Beach: Open Sunday July 11, 2010 1-4 pm

2010-07-09T23:27:00.000-07:00

   612 10th Street #B, Hermosa Beach, CA 90254


                                 Sale Pending

              Open House Sunday 1:00-4:00

This one has it all...   including a new price... $959,000

This sharp rear unit is a short walk to downtown Hermosa and the Beach.   Literally steps to the jogging path for an early morning run or a quiet evening stroll. Walk to the library and restaurants and beach concerts.

There's lots to love in this unit from the roof top deck with a peek of the ocean to the oversize laundry room with storage galore. The home is 2357 square feet with 3 large bedrooms, 2.5 baths, charming living room, a full size dining room and a breakfast nook, large family room with open views and a fabulous kitchen. with a terrific pantry.  The 2 view decks give you a new perspective on beach living.



Click on the video for a quick preview and join me Sunday July 11, 2010 for a closer inspection.

Coming Soon.... 14,000 sq ft lot in east Manhattan Beach

2010-07-09T23:11:00.000-07:00

233 S. Meadows Ave. Manhattan Beach...Truly a rare find!

Terrific lot in good east Manhattan Beach location. This huge 14,000 lot is ideally suited for a dream home with room for pool, spa, sport court or ?

The owners are clearing out some things and the property is not quite ready for prime time... Currently inspection of the property will be limited to offers made subject to inspection. PLEASE..... DO NOT DISTURB OCCUPANTS!

Call (310) 721-7438 or email me for more information..

***Broker co-operation

July 4, 2010 Happy Birthday USA

2010-07-04T12:44:00.000-07:00

July 4, 2010 Fireworks shows in the South Bay-Beach Cities...

While many cities will be cutting back next year on July 4th celebrations because of the economic situation... you can still catch fireworks shows this year.

El Segundo:

The fireworks show starts at 9:00.. get there early to get a good seat!

Redondo Beach:

The show starts at the end of the pier at 9:00. Parking is at a premium so go early.

Torrance:
The show starts at 9:00 at Wilson Park... this may be the last fireworks display for a long time so enjoy!

Beach Cities: Sold May 2010

2010-06-27T16:22:00.000-07:00

Information of properties that sold in May 2010 in the Beach cities of Manhattan Beach, Hermosa beach, Redondo Beach and El Segundo....

Hermosa Beach walk street

As the Spring home buying rush moves into summer, the market seems to be settling down a bit from the frenzy earlier in the year. Inventory is up slightly but still at lower levels than last year at this time. Interest rates are at an all time low with conforming loans ( $729,750-) under 5% for a 30 year fixed rate loan. .. doesn't get better then that! Appraisals are coming in a market more often then they did last year as everyone adjusts to new laws and requirements. Prices seem to be on the flat side although slightly higher then last year for entry level properties in all the South Bay-Beach Cities.

The big question is will the market continue to be rather stable in the South Bay-Beach Cities or will outside market forces once again force changes in our local market. Lou Barnes seems to think we need to see some major adjustments in the thinking of the boys in DC... and I agree. Economic conditions are far more dicey then we think. If the South Bay can continue to avoid major unemployment as an issue we may continue to see a fairly stable market with prices bouncing up and down in a relatively normal market pattern.

South Bay-Beach Cities: Sold May 2010

Hermosa Beach: Open House 612 10th St #B,,.Open Sunday 2-4 pm

2010-06-27T09:34:00.000-07:00

612 10th Street #B, Hermosa Beach, CA 902

This one has it all...  sharp rear unit is a short walk to downtown Hermosa and the Beach.   Literally steps to the jogging path for an early morning run or a quiet evening stroll. Walk to the library and restaurants and beach concerts.
There's lots to love in this unit from the roof top deck with a peek of the ocean to the oversize laundry room with storage galore. The home is 2357 square feet with 3 large bedrooms, 2.5 baths, charming living room, a full size dining room and a breakfast nook, large family room with open views and a fabulous kitchen. with a terrific pantry.  The 2 view decks give you a new perspective on beach living.

                                                 $989,000

Click on the video for a quick preview and join me Sunday June 20, 2010 for a closer inspection.

New Listing: 612 10th St. #B Hermosa Beach... Open Sunday 1-4 pm

2010-06-17T19:01:00.000-07:00

612 10th Street #B, Hermosa Beach, CA 90266

Just in time for warm summer days and breezy summer nights... this lovely rear unit is a short walk to downtown Hermosa and the Beach.   Literally steps to the jogging path for an early morning run or a quiet evening stroll.

There's lots to love in this unit from the roof top deck with a peek of the ocean to the oversize laundry room with storage galore. The home is 2357 square feet with 3 large bedrooms, 2.5 baths, charming living room, a full size dining room and a breakfast nook, large family room with open views and a fabulous kitchen. with a terrific pantry.  The 2 view decks will make your inland friends jealous.

                                                 $989,000

Click on the video for a quick preview and join me Sunday June 20, 2010 for a closer imspection.

In Rememberance....

2010-05-30T08:22:00.000-07:00

Wouldn't it be nice to have a world without war? It seems a shame that with all the technical and scientific advances we have discovered or invented over the years we can't find a better way to resolve our differences then to war among ourselves.

We have lost a number of our young people to war over the years. For my generation it was Vietnam that took so many lives. Today it is Iraq and Afghanistan. It doesn't matter what party your identify with or your stance on the war. Memorial Day is a day to remember all who died in the service of their country.

Local Memorial Events:
REDONDO BEACH
1. The city of Redondo Beach invites South Bay veterans and residents to its 2010 Memorial Day ceremony from noon to 11:30 -12:30. at the Veterans Park by the Redondo Beach pier, at Catalina Avenue and Torrance Boulevard.

RANCHO PALOS VERDES
The 25th annual Memorial Day Observance at Green Hills Memorial Park will be from 10 a.m. to noon Monday.

Beach Cities: Sold April 2010

2010-05-15T13:31:00.000-07:00

A look at home sales in Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo...

Manhattan Beach Strand

Seems as if Spring has definitely sprung for the South Bay-Beach Cities real estate market. Inventory is increasing slightly from the first quarter as more sellers are testing the market. While inventory is still well below that of last year at this time, there are definitely more choices then buyers saw a few months ago. Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo are all experiencing a rise in home sales after some very lean years.

Prices at the entry levels are holding steady and even showing slight increases from last year in all the Beach Cities. That part of the market has been very steady now for about a year. The middle of the market is also showing signs of stabilizing while the upper levels are anyone's guess. There are sales in the $3.5+ range but most of them found buyers after some big price reductions.

On the other hand, Strand properties in Manhattan and Hermosa are posting prices that are well above those found at the height of the market. These properties are the epitome of the old adage location, location, location. The South end of the Manhattan Strand and the North end of the Hermosa Strand seem to be the place for upper end properties. It will say a lot about the draw of our local real estate market if these homes find buyers near the asking prices.

Beach Cities: Sold April 2010

Manhattan Beach: Market Snapshot April 26, 2010

2010-04-26T16:59:00.000-07:00

Manhattan Beach: Days on Market April 2010

There have been definite changes in the Manhattan Beach real estate market from April 2009- April 2010. Inventory has gone down, sales have gone up and interest rates remain lower then many anticipated.   Last year there were 178 homes and 45 townhomes for sale in Manhattan Beach in April 2009. This year there are 108 homes and 40 townhomes for sale.  Last year by mid April 7 homes and 4 townhomes had closed escrow. This year 23 homes and 3 townhomes have closed escrow so far this month. Last year there were 39 homes and 11 townhomes in escrow... this year there are 53 homes and 14 townhomes in escrow.

While the numbers don't come near the figures for the boom years prior to 2007, the steady trend of the last 3 quarters shows that the market may be beginning to stabilize.   The upward push seems to be coming from the lower end as the entry level is showing stable to slightly higher prices then last year at the same time.   The mid range of the market continues to bounce a bit but in general is finding a more solid course. The upper end the market is still looking for stability. Most of the high end homes that are selling are those that have lowered their prices from last year.   There are a few exceptions of course, but in general prices on higher end homes have more room before reaching bottom.

The days on market continue to show that the overall market still has some wiggle room before finding the low end of the market. Homes that are priced right are selling fairly quickly but generally inventory is seeing average market times of 90+ days.   Price, location and condition are still the keys to a quick sale.    If you have to sell fast you need to price it right and make it sparkle.

Manhattan Beach: Market Snapshot April 26, 2010

Manhattan Beach: Price Ranges April 26, 2010