Come2theBeach

April Real Estate Sales in the Beach Cities

mknickerbocker — Wed, 09 May 2012 23:00:51 +0000

In spite of severely limited inventory, April’s closed sales in Manhattan Beach, Hermosa Beach and Redondo Beach were significantly higher than April, 2011. This should come as no surprise to anyone who has been shopping for a home. Buyers have been encountering frustrating multiple offers situations since February. Now for the numbers: 46 homes sold in Manhattan Beach in April, 2012 compared to 36 April 2011. Hermosa Beach saw 15 closed escrows compared to 9 last year, and Redondo Beach was nearly the same as last year with 63 home sales compared to 60 a year ago. While Redondo Beach homes sold are nearly flat compared to the previous year, those 60 sales were eked out of inventories that ran in March and April at half what they had been a year ago. Manhattan Beach inventories were also almost half the number of a year ago with April ending with 88 homes for sale compared to 164 April, 2011.

The prices have not changed significantly however. Since the average price bounces around from month to month depending on the mix of sales, it is difficult to spot a trend in the numbers yet, but anecdotally we know that there have been a large number of homes sold with multiple offers, and those situations are similar to auctions that bid up the price. In Redondo Beach and elsewhere, the appraisals have not increased in many cases to reflect the value of the homes in the present market. Buyers and sellers have had to renegotiate some of the contracts down to get the needed financing. And the negotiations have not been all one way with buyers coming up with extra cash in some cases to keep from losing the home they want to buy. Another trend we have been seeing is that developers are re-entering the market creating more competition for the lower priced homes in Manhattan Beach. There have also been more off-market or “quiet sales” which has restricted the number listed on the multiple listing service and widely marketed. The interest rates have remained amazingly low through-out this period.

If you would like a more detailed break down of sales in your specific neighborhood, please give me a call at 310-995-1597 or email me at Mickey@Come2theBeach.com. Whether your are planning on purchasing or selling, you need to know the latest numbers by property type and price range to make smart decistions in this rapidly changing market.

Advice for Home Buyers

mknickerbocker — Sat, 28 Apr 2012 00:28:42 +0000

Note to Home Buyer Video

If you are just starting your home search, you probably think the most important first step is to find a home that you love. But I would suggest to you that your first step should be to find a REALTOR you love, one that listens to you, and understands your needs. An agent who knows the area can help you identify neighborhoods, schools and all the amenities you can expect. With the assistance of a good agent, the next steps will be easier. And the next step should be to talk to a lender about a mortgage and preapproval. If you have taken those two important steps, the next thing you might want to do is preview homes online. To search for homes online, go no further than the “Property Search” tab on this website where you can register to receive updates when homes you would like come on the market. The search feature is optimized for mobile searching on whatever device you use, and it is tied to the local multiple listing service that I use for up-to-date information.

Sand Dune Park (part 2 in the series on MB parks)

mknickerbocker — Sat, 28 Apr 2012 00:08:16 +0000

My favorite small park is Sand Dune Park at 33rd St. and Bell Avenue. It is best know for the large hill of sand that presents a challenging workout for anyone who tries to climb it. It was built in 1964 by the neighbors, and that that the reservation system is in place, it is today a quiet but well-used neighborhood park.

At the bottom of the dune is a tot lot, and extending south is a field where children play or practice their soccer skills with the help of their parents. Next to the dune is a staircase with over one hundred steps. Walking up that is a workout itself, but the reward it the panoramic view of the Tree Section and beyond when you reach the top.

My favorite walk, however, is the combination of trails and stair that zig sag through the green canopy. It is a good place to watch for birds and enjoy nature. When you reach the top of the park, it is a short walk down to the beach. During the summer months children and adults carrying beach chairs and towels walk down 31st St. or 33rd St. and through the park on their way to the beach avoiding the busy traffic streets. For me the walk through the park is its own reward.

What is your favorite park in Manhattan Beach, and what do you like about it? Are the recreational facilities most important to you, or is it your favorite because it is close to your home. Do you have a favorite neighborhood where you would like to live that is near a park?

Tips for Home Sellers

mknickerbocker — Mon, 23 Apr 2012 20:44:54 +0000

If you are planning on selling your home start preparing early. You will want to spend the extra time preparing the home for the buyer. Ask someone, your real estate agent, interior designer or stager to give you some ideas how to make it more appealing. And consider having your home professionally inspected to find those hidden issues that could cost you a lot of money later, or maybe even cost you the buyer. Discovered now, they can often be repaired for less money and a lot less pressure on you. The work you do now will make the difference in a smooth escrow or one fraught with frustration.

First Quarter Sales Results for Manhattan Beach

mknickerbocker — Fri, 06 Apr 2012 21:35:51 +0000

: Barbara Corcoran

I heard Barbara Corcoran speaking about real estate trends this week. In case you are not familiar with the name, Barbara is the the founder of The Corcoran Group, a mega-real estate brokerage in New York City, author of Shark Tales, and star of ABC’s Shark Tank. The interviewer asked her if she would say that this is the best time to buy real estate, and Barbara responded with an emphatic, “No, that was four to five months ago!” She went on to say that this is still a great time to buy, but sellers are less vulnerable now that they were a few months ago. Why? Because there has been a dramatic increase in sales and decrease in inventory. Reports of multiple offers are coming in from markets all across the country.

This has been particulary true in the Beach Cities. First quarter closed sales in Manhattan Beach are the same as in 2011, but with 34.8% less inventory than last year. The critical difference comes when you look at the pending sales. These are home that are “in escrow,” but have not yet closed. Those sales are up 34.4% through the end of the quarter. And, as I have said before, they would be even higher if buyers could find more homes for sale.

So why are inventory levels so low? The obvious answer is that potential home sellers are waiting for pricing to improve. If the seller has lost his initial down payment, he may not have the resources to buy again now no matter how good the prices and the iterest rates look. In some cases he has leased out his home in order to move, but he now has to work around tenants and leases for a sale. That might not be easy. For some areas of California and the nation, it may take years for prices to recover, but multiple offers are sure to bid up those prices. First quarter sales in Manhattan Beach averaged $655 per square foot, up from the 2011 average of $644 per square foot. That is still a long way from the 2007 average of $792 per square foot, but well above the $619 average in 2009. Buyers are still willing to pay well above the average for a unique and high quality home.

If you are trying to figure out what this means for you as a seller, or a buyer with a specific type of property in mind, contact me. We can drill down in to neighborhoods and even styles of homes for more trends. For sellers this market is the best in years if you are able, and want to sell. For buyers, this is still an excellent time with prices and interest rates well below peak levels.

Manhattan Beach Parks

mknickerbocker — Tue, 20 Mar 2012 21:15:19 +0000

Although Manhattan Beach is less than five square miles, it is home to an exceptional array of parks and recreational facilities. Home buyers in Manhattan Beach are often struck by how small are the lot sizes , and consequently how small or even non-existent are back yards. Fortunately there are plenty of parks to choose from. Polliwog Park is the largest of the parks with 18 acres, and a favorite of mine. When I lived in a nearby neighborhood, I used to jog past the pond to see the ducks every morning. So many improvements have been built here over the years, that there are now two areas with playground equipment for small children, and plenty of benches and shady areas for adults to relax. There are also 3 gazebos and a picnic area than can be reserved for special events.

A few years ago, one of the city’s original beach cottages was moved to the park and refurbished. Today it is the home of the Historical Museum and houses many early photographs of the city collected by the Historical Society.

The Duck Pond at Polliwog Park

The amphitheater is home to the Concert in the Park live music program that runs on Sunday evenings in from late June until the end of the summer.

Surrounding the park are additional recreational facilities. Adjacent is Begg Pool which is open during the summer for swimmng and classes. Also adjacent to the park is the Premier Little League Field and the volunteer operated Manhattan Beach Botanical Garden. Adjacent to Begg Field is the Polliwog Park Dog Run which was opened in 2010. Across Manhattan Beach Blvd. are the facilities of Manhattan Heights Park which include the Manhattan Heights Community Center complete with an auditorium, catering kitchen and meeting rooms. There are also two tennis courts, two paddle tennis courts and a basketball court as well as a picnic area and children’s play area.

: One of Polliwog Park’s Play Areas

All of the picnic areas of Polliwog Park or Manhattan Heights Park can be reserved for private events including the Community Center. For more information regarding reservations or tours of the museum, go the the webiste for the City of Manhattan Beach at http://www.ci.manhattan-beach.ca.us/.

Moving to the Beach? Make It Manhattan Beach!

mknickerbocker — Wed, 15 Feb 2012 23:23:05 +0000

There are many reasons why Manhattan Beach is a popular city. From schools to beaches and parks, restaurants to airport convenience, here are some of the reasons I like Manhattan Beach.

Unique Redondo Beach Townhome

mknickerbocker — Tue, 07 Feb 2012 22:57:16 +0000

We're sorry, but we couldn't find MLS # S12017024 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Buyers love the extra value they get from the tw0-on-a-lot townhomes in the Beach Cities. Typically in North Redondo Beach, this type of construction is on a 50 x 150 R-2 lot with a front unit and a rear unit and a shared driveway. Most are under 2400 square feet, and may or may not have a back yard, however small. Occaisionally a home comes on the market that is on a corner which allows the two units to face different streets and not share a common driveway. Such is the case with my new listing at 2422 Gates Ave. Additionally, this particular corner lot is 60 feet wide, allowing for a landscaped side yard. The home is more spacious than most, and has a formal living room, formal dining room, a family room and four bedrooms. At $785,000, this is a good buy on a comfortable and spacious home.

When Is the Best Time to Sell?

agentevo — Fri, 27 Jan 2012 02:56:03 +0000

Sellers usually do not think of January as the best time to put their home on the market–even in sunny Southern California, where weather is less an issue than in other parts of the country. But some years we find the buyers are ready to buy long before the sellers are ready to list their homes. This could be just such a year, and an opportune moment for sellers to showcase their homes before competing inventory comes on the market. The year- end numbers confirmed what we all felt was happening. The fourth quarter market lagged in the number of homes for sale in Manhattan Beach. So much so, that I suspect that our sales numbers for the fourth quarter were lower than they could have been if buyers could have found the properties they wanted. December invetories ended up down -26.4% lower than December, 2010. Looking at a 5 year chart of inventory, 2011 ended at or near the bottom. Nowhere is it more obvious than in the Tree Section which ended the year -39.1% lower than a year ago. New listings coming out this month, are few and far between, but each is getting our full attention. The lovely home at 759 27th St. was under contract in just 10 days. As I write this, there are only 15 active listings in the Tree Section, and 12 properties that are already under contract! That is clearly a huge opportunity for a seller who brings his home on the market now.

Welcome to my Website

agentevo — Tue, 17 Jan 2012 19:46:26 +0000

Search for Homes

Welcome to my website. Here you will find information about the communities I serve, Manhattan Beach, Hermosa Beach, Redondo Beach and surrounding cities. There is information on the excellent schools as well. Follow real estate market trends with updated charts every month or request a customized market valuation of your home. Be sure to click on the “Search Properties” tab to search for a complete home searcch including sold properties. My search tool uses the same data base as I do, and it is updated every couple of hours providing you with the most current information. Be sure to register to save your searches, view all the detail about properties, and sign up for automatic updates when new listings come out. If you are searching from your mobile device, the search tool automatically forwards you to a mobile enhanced version. And contact me if you have questions or wish to view a property.