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  • Redondo Beach Brokers Open Favorite Listing

    Posted on September 19th, 2013 acimetta No comments

    Redondo Beach Brokers Open Today

    Of all the listings I saw today, my favorite was 520 N Guadalupe, #C in South Redondo. I’ll be honest… I wasn’t crazy about climbing all the stairs to the front door, but it will be easier from the garage. This town home has nice ocean views from the master bedroom. But what it also has is tons of space. This home feels substantial. And the back patio is lovely with stone and a fountain. The kitchen is great too. This home needs some updating, but it is, without a doubt, move-in ready.

  • Redondo Beach / Area 151: Home Sales August 2013

    Posted on September 19th, 2013 acimetta No comments

    North Redondo Homes Sales August 2013

    Seventeen homes sold in August 2013 in Area 151 in North Redondo. This is 2 less than the number of homes sold in July, and 4 homes less than sold one year ago in August 2012. In most cases, it has continued to be a sellers’ market although buyers still have the advantage of buying homes at prices below the peak of the bubble and at low interest rates.

    New construction is still a good buy considering you can spend the same (and even more money, in some cases) and get a town home that is up to 7 years old. Most homes are still selling quickly… many within the first week. And this translates into offers coming in immediately followed by a couple of days of negotiations before an offer is accepted.

    One of the sales that really surprised me is 2144 Perry Ave. It’s a single family that had an addition. It does have a lot of square footage, but there is only a one car garage and it’s lacking in the quality department. this one sold for $1,115,000. This surprised me and many of my colleagues, but it showed that buyers are still feeling that desperation to get in the market and ultimately willing to pay a premium.

    Address Sq Ft. Lot Year B/B DOM Sold Price Original List Diff
    2219 Curtis Ave, #C * 1,060 7,499 1975 2/2 7 $464,000 $499,000 -7%
    1900 Voorhees Ave, #B * 1,471 1987 2/3 6 $553,000 $495,000 +12%
    2512 Gates Ave, #B * 1,610 7,526 1999 4/3 48 $667,500 $663,999 +.5%
    2811 Barkley Lane 1,064 5,872 1947 3/1 21 $669,000 $669,000
    2225 Mathews Ave, #C * 1,718 14,687 2000 3/3 8 $700,000 $649,000 +8%
    2223 Voorhees Ave, #B * 1,955 7,504 1981 3/3 8 $708,000 $700,000 +1%
    2415 Thomas Ave 1,590 6,550 1945 4/2 49 $722,150 $724,900 -.4%
    1918 Ruhland Ave, #B * 2,477 7,513 1987 3/3 0 $725,000 $725,000
    1921 Nelson Ave, #A * 2,054 7,480 1990 4/3 56 $750,000 $775,000 -3%
    2116 Plant Ave, #A * 2,050 6,655 1989 3/3 5 $817,500 $799,000 +2%
    2205 Nelson Ave, #B * 2,387 7,495 1986 3/3 34 $820,000 $769,000 +6.5%
    1913 Nelson Ave 2,180 1959 4/3 49 $828,000 $859,000 -3.5%
    2003 Curtis Ave, #A * 2,085 7,501 1990 4/3 9 $830,000 $779,000 +6.5%
    1914 Ernest Ave, #A * 2,300 7,500 2004 4/3 1 $910,000 $910,000
    2109 Plant Ave, #B * 2,357 7,504 2006 4/3 11 $930,000 $929,000
    2021 Gates Ave, #B * 2,508 7,481 2013 4/4 1 $959,000 $959,000
    2204 Plant Ave, #A * 2,500 6,645 2007 4/3 6 $959,900 $959,900
    2144 Perry Ave 3,134 7,509 1947 5/4 14 $1,115,000 $1,150,000 -3%

  • Taking the Real Estate Market’s Temperature: A Seller’s Market

    Posted on June 25th, 2013 acimetta No comments

    For the past several months in the South Bay, we’ve been experiencing a frenetic market where listings are sold in days, if not hours. If you blink, you miss them. Multiple offers on properties have effectively pushed prices up quickly. And there is no sign of a slow down yet. With that being said, this is a great time to be a seller. If you’ve been thinking about selling, you may want to take advantage of this climate: very little competition and desperate, aggressive buyers.

    If you wait too long and put your home on the market when everyone else does, then buyers will have their pick of their homes and prices will begin to stabilize. However, if you remain ahead of the curve, you will benefit from this buyer frenzy we are experiencing.

    If you would like to discuss your options in more depth, don’t hesitate to contact me at 310.542.9054.

    The chart above represents the Properties for Sale vs. Sold Properties vs. Properties in Escrow (pending) in North Redondo (zip code: 90278) for the time period of December 2012 – May 2013. You can clearly see that the number of homes for sale have not been able to keep up with the homes sold.

     

     

  • Redondo Beach Home Sales May 2013

    Posted on June 10th, 2013 acimetta No comments

    Here are home sales for North Redondo Beach, Area 151 (located north of Artesia Blvd and south of Manhattan Beach Blvd.

    Address Sq Ft. Lot Size Year B/B DOM Sold Original List Variance
    2120 Dufour Ave, #18 *  1,368 45,019 1975 3/2.5 45 $499,000 $520,000 -4%
    2224 Bataan Rd, #2 * (S) 1,350 7,508 1980 2/2.5 7 $501,500 $465,000 +8%
    2000 Mathews Ave, #2 * 1,238 11,256 1977 2/2.5 8 $505,000 $479,000 +5%
    2105 Mathews Ave, #7 * 1,972 22,498 1978 3/4 28 $620,000 $625,000 -1%
    3506 Rindge  Ln 1,082 4,095 1952 3/2 38 $630,000 $599,000 +5%
    2000 Voorhees Ave, #9 * 1,758 15,017 1952 3/3 75 $633,500 $639,000 -1%
    3506 McBain Ave 1,318 6,092 1950 3/2 9 $685,000 $669,000 +2%
    2516 Gates Ave, #A * 1,818 7,511 2006 3/2.5 42 $715,000 $720,000 -.5%
    2020 Nelson Ave 1,349 3,331 1961 2/2 15 $725,000 $689,000 +5%
    2006 Bataan Rd 1,503 7,503 1948 2/1 46 $725,000 $750,000 -3%
    1910 Ernest Ave, #B * 2,113 7,505 1988 4/2.5 58 $740,000 $769,000 -4%
    2301 Nelson Ave, #A * 2,212 6,295 1992 4/2.5 28 $820,000 $779,000 +5%
    2418 Gates Ave, #A * 2,316 7,485 2003 4/2.5 23 $835,000 $834,995 0%
    2204 Phelan Ln * 2,621 7,322 1990 4/4.5 5 $845,000 $799,000 +6%
    1924 Nelson Ave, #B * 2,480 7,500 2008 4/2.5 8 $900,000 $899,900 0%
    2015 Graham Ave 2,795 5,177 2006 5/3 8 $1,195,000 $1,149,000 -4%
    1906 Gates Ave 3,380 5,399 2013 4/4.5 5 $1,250,000 $1,250,000 0

     

    Homes are moving quickly. 75 Days on Market is the longest any one of these properties sat on the market before the seller accepted an offer. Many of these listings sold within a week. And there were some that sold in 2-6 weeks. More often than not buyers are seeing homes come on the market only to disappear in days. There is still high demand with little inventory. If you’re a buyer, I advise you to put your best foot forward. This is not a market in which you can come in low and negotiate with the seller. You have to compete with other aggressive buyers. You may not even get a chance for a counter offer.

    Tips On Making A Stronger Offer

    1. If you are financing the purchase, making as a large a down payment as possible is important.

    2. Making a 3% good faith deposit always shows that you’re a serious buyer. You can increase this deposit. (The good news is that the contract limits your liquidated damages to the 3% so anything over would come back to you if you were in breach of contract.) If you really want to make an impression, you can release the deposit to the seller immediately. But keep in mind that if you cancel, you are walking away from this money.

    3. Waiving the appraisal contingency. If you love the property and you don’t mind paying a premium, then agree to waive the appraisal contingency. If the appraisal comes in lower and the bank will only lend a certain amount, then you will be responsible for coming out of pocket for the balance. This is a great tactic in a seller’s market, because the seller doesn’t have to be concerned with taking a high offer that might not appraise.

    4. Paying for seller’s costs. You can offer to pay some or all of the seller’s closing costs such as escrow fees, county and city transfer taxes, termite work, title insurance, etc.

  • North Redondo For Sale vs. Sold Aug 2012 – Jan 2013

    Posted on March 5th, 2013 acimetta No comments

    <iframe src=”http://post2web.trendgraphix.com/FactsAndTrends/Post2Web.aspx?FtId=22c74e07-ddee-4543-b9fd-549d95100924” width=”690″ height=”600″ frameborder=”no” scrolling=”auto”></iframe>

     

    In this graph you can see that inventory continues to dwindle. And in the past few months, the number of transactions that have closed actually out numbers the number of homes for sale. Buyers are desperate for properties. This could be a great time to put your home on the market, if you have been considering it. As I stated in an earlier post today, many properties are get multiple offers and the prices are being pushed up.

  • North Redondo Home Sales July – December 2012

    Posted on January 26th, 2013 acimetta No comments