Archive for the ‘Long Beach, Palos Verdes’ Category
November 3, 2007
Torrance
21806 Anza Avenue - 3bd/2bth/1140sqft/$679,000 - Sunday 1-4PM
Hermosa Beach
511 11th Street #A - 4bd/2.5bth/2318sqft/$1,119,000 - Sunday 1-4PM
1632 Manhattan Ave - 3bd/2.5bth/1491sqft/$999,000 - Sunday 1-4PM
518 11TH ST #A - 3bd/2.5bth/1917sqft/$1,089,000 - Sunday 1-4PM
Redondo Beach
704 S Broadway #K - 3bd/2.5bth/1926sqft/$959,000 - Sunday 1-4PM
Palos Verdes Estates
2609 Palos Verdes Drive West - 4bd/2bth/2213sqft/$1,249,000 - Sunday 1-5PM
Rancho Palos Verdes
1873 Homeworth Drive - 2bd/2bth/1187sqft/$599,000 - Sunday 1-3PM
San Pedro
3207 S Denison - 2bd/1bth/788sqft/$423,500 - Sunday 1-4PM
1418 Brett Pl #122 - 1bd/1bth/864sqft/$345,000 - Sunday 1-4PM
October 31, 2007
In watching the price reductions in the South Bay, I have noticed Redondo Beach popping up on that list more often lately. While that is a trend overall in Los Angeles, Redondo seems to be taking up a larger share of the list. Here are some of the October sales for the area:
1100 S CATALINA AVE - 3bd/2bth/2303sqft - Sold $1,650,000
712 SAPPHIRE ST - 4bd/4bth/4698sqft - Sold $2,560,000
700 ESPLANADE APT 31 - 3bd/2bth/1624sqft - Sold $779,000
521 SAPPHIRE ST - 3bd/1bth/1203sqft - Sold $1,200,000
235 S IRENA AVE - 2bd/1bth/1202sqft - Sold $1,267,000
410 S LUCIA AVE - 2bd/1bth/820sqft - Sold $879,000
October 31, 2007
The Federal Open Market Committee announced another drop of 25 basis points for the federal funds rate down to 4.5%. The corresponding press release from the Fed included this phrase: ”However, the pace of economic expansion will likely slow in the near term, partly reflecting the intensification of the housing correction.”
There is some interesting debate at LALand on how the Fed is viewing the “housing correction.” Peter gives some good advice on reading the tea leaves when it comes to the Fed’s press releases.
October 30, 2007
Looking for something fun to do tomorrow? Here are some suggestions from the Daily Breeze, with more events at their article.
Rolling Hills Estates
Avenue of the Peninsula - Trick-or-treating, entertainment, giveaways; free; 3:30-6:30 p.m. Silver Spur Road between Hawthorne and Crenshaw blvds. www.shopattheavenue.com
Torrance
Halloween Carnival; free admission, (10 tickets for $5); 4-8p.m. Wednesday; Wilson Park, 2200 Crenshaw Blvd., (310) 618-2930
San Pedro
Scary Stories 5, annual live reading of tales by Poe, Saki and others; $5, children 6/under free; 6:30 p.m. today; amphitheater, Angels Gate Cultural Center, 3601 S. Gaffey St., (310) 519-0936, www.angelsgateart.org
Redondo Beach
Trick-or-treating in Riviera Village; free; 4-7 p.m. Wednesday; businesses along Catalina Avenue from Avenue I to Palos Verdes Blvd, (310) 791-7104, www.rivieravillage.org
October 29, 2007
3243 Danaha Street - 4bd/2bth/1742sqft - $839,000 to $825,000
20615 Madrona Ave - 4bd/3bth/3230sqft - $1,168,668 to $1,108,668
3706 W 227th St - 3bd/1.5bth/1279sqft - $654,000 to $628,500
4708 Pacific Coast - 3bd/2bth/1631sqft - $729,000 to $699,000
2574 W 234th - 4bd/2.5bth/2389sqft - $1,177,000 to $1,125,000
3415 Artesia Blvd #13 - 2bd/2.5bth/1400sqft - $448,000 to $428,000
October 29, 2007
As we head in to this buyer’s market, one thing that will trend upward is the number of days a property stays on the market before selling. This is a valuable statistic to track and compare when you are deciding on an offer price for any property. The longer a seller has been trying to sell, the more they may be willing to negotiate on the value.
Redfin has great search options for available homes including a selection bar in the pop-up menu for anything from new listings to listings with over 180 days on Redfin. Also on any full print out listing from Redfin the On Redfin number gives you a quick glance at this stat.
While this number sounds easy to calculate, it becomes tricky because the different local listing boards may have differing ways they allow listing agents to modify the Days on Market value. Some may allow an agent to “re-list” a property and thereby reset the count, the board may consider the day count reset if the owner changes listing agents or the listing agent may cancel the listing for a short period and then bring it back on as new.
It can quickly head in to ethically gray areas so most boards frown on agents using any method to give the wrong impression of market time. Many have added extra information on consecutive days marketed and history searches which bring up years of past activity. In the south bay area the board has strict policies on pushing accurate DOM counts and the numbers are easy for your Redfin agent to verify.
When you are approaching the offer phase for a property, talk to your Redfin agent and they can provide you the extra background information to know just how long the seller has been waiting.
October 27, 2007
Manhattan Beach
8 San Miguel - 3bd/2.5bth/1903sqft/$1,299,000 - Sunday 1-4PM
309 32nd St - 3bd/3.5bth/2510sqft/$2,295,000 - Sunday 1-4PM
Hermosa Beach
731 4TH STREET #B - 4bd/2.5bth/2814sqft/$1,280,000 - Sunday 1-5PM
Redondo Beach
1609 Flagler #B - 3bd/2.5bth/1853sqft/$815,000 - Sunday 1-4PM
1635 Stanford Ave - 3bd/2bth/1478sqft/$779,000 - Sunday 1-4PM
Palos Verdes Estates
1608 Via Barcelona - 4bd/3.5bth/4360sqft/$2,885,000 - Sunday 1-4PM
Rolling Hills Estates
4616 ROLLANDO DRIVE - 3bd/3bth/2828sqft/$1,499,000 - Sunday 1-4PM
Rancho Palos Verdes
3130 Crownview Drive - 4bd/3.5bth/3659sqft/$1,795,000 - Sunday 1-4PM
26565 Mazur - 3bd/2bth/1550sqft/$989,000 - Sunday 2-4PM
Long Beach
2140 North Ohio AVE #1 - 2bd/2bth/1300sqft/$569,000 - Sunday 1-4PM
85 Angelo Walk - 2bd/2bth/1402sqft/$949,000 - Sunday 1-4PM
October 25, 2007
Some more beach cities price movement this week with a 6.25% reduction on 1901 Poinsettia and two properties in Hermosa dropping just under $1M.
Manhattan Beach
225 39th Street - 3bd/3bth/1592sqft - $1,629,000 to $1,599,000
3611 Vista - 4bd/3.5bth/2824sqft - $1,730,000 to $1,699,000
2801 Alma Avenue - 3bd/3.5bth/2000sqft - $2,199,000 to $2,149,000
1901 N Poinsettia Avenue - 5bd/4.5bth/3200sqft - $2,399,000 to $2,249,000
1431 5th Street - 4bd/3bth/2000sqft - $1,429,000 to $1,399,000
Hermosa Beach
858 Loma Drive #B - 3bd/3.5bth/1691sqft -$1,044,000 to $999,000
1006 3rd - 4bd/2.5bth/1867sqft - $1,029,000 to $999,999
October 23, 2007
Photo courtesy NASA.
Living in LA right now, you don’t need the news to know the scale of the fires raging in Southern California. You can just open a window. The blast of the Santa Ana winds, which normally feel like standing above a chimney, also smell like one right now. Fellow SweetDigs bloggers, Charles Song and Ron DeGenova, just posted regarding the air quality and the fires impact on home loans.
I completely agree with their posts on the subject in hoping that nature gives the firefighters a break and losses can be kept to a minimum. Along with fire departments from around the area, South Bay departments also headed out to the wildfires in Malibu, Castaic and the Santa Clarita Valley.
LALand also gave some preliminary thoughts on the economic impact of the fires including the local real estate market. Peter’s view of the short term: “Throughout the affected areas, the fires will cause a temporary freeze on all home sales activity — very few people will go to open houses this weekend in the affected areas.”
This is very true. Disasters rearrange your priorities. Right after 9/11, the real estate office I worked in was understandably a ghost town. Buyers lost interest, sellers didn’t want to be interrupted by showings, and agents spoke only of the events, the latest news, their families and their own feelings. It was civilian shell shock.
This rational and emotional recovery process takes time to work through. The amount of time must depend on how deeply the tragedy effects the population involved. For 9/11 in the Los Angeles South Bay it took a few months before people could comfortably work words like escrow, mortgage and open house back in to their vocabulary.
Once recovery takes hold, the housing market also starts to recover and the rebuilding starts. You can see it in every disaster that put a local real estate market in to shock: Hurricane Katrina, the Northridge and San Francisco earthquakes, the Mississippi floods.
Will that recovery take as long in the South Bay as it will in Malibu? No, but it will still have an effect.
Too soon to write about the fires? Maybe, but it is always worth analyzing how current events are affecting our decisions. That said, I certainly realize when I wash the ashes off my windshield some of those ashes are from people’s homes.
October 23, 2007
With a mix of vintage 1920’s homes and newer construction, this neighborhood has plenty of personality.
Available
41 Coronado AVE - 2bd/2bth/1060sqft/built 1922 - $675,000
3048 East 1st ST - 3bd/3bth/2912sqft/built 1921 - $1,995,000
3040 East 1st ST - 4bd/4.5bth/4364sqft/built 1929 - $2,799,000
3039 East 2nd ST - 4bd/3.75bth/2438sqft/built 1946 - $1,450,000
2728 East Broadway - 3bd/4bth/1872sqft/built 1912 - $799,000
2302 East 2nd ST #1B - 1bd/1bth/734sqft/built 1964 - $330,000
2138 East 1st ST #5 - 2bd/2bth/775sqft/built 1988 - $407,999
