With Q1 2017 now in the rear view mirror, it looks like we are going to be for a wild ride as we go into the traditional selling season and the balance of the year. Low inventory will persist while both prices and interest rates will go up. More on that later.
Personally I finished Q1 with 6 closed escrows in the books. It could have just as well been 8 but a few sales are slipping into April because of TRID, appraisals and the usual process issues we see these days. Of my sales, 2 were listings and on 4 I represented Buyers. One of my buyer transactions was shared with Aaron Grossman who is on my team.
Here's the recap.
REDONDO BEACH REAL ESTATE
Redondo Beach and in particular North Redondo remains one of the hottest coastal markets. As I have written about previously, Redondo Beach offers an amazing blend of location, schools, beach access, quality of life and affordability. And compared to Manhattan Beach and Hermosa Beach, very affordably priced.
I had three sales out of my six in North Redondo Beach 90278. Two of the sales were listings and on the third I represented the Buyer.
Actually I had listed and sold both of these 3 on a lot Townhomes before. One a little less than 2 years ago and the other just over 2 years. I'm actually planning a future post on properties I have sold multiple times. (I think that's kind of an interesting topic, we'll see.)
If you are not familiar with 3 on a lots, which are quite common in North Redondo Beach, these are 3 properties (zoned as condominiums) connected and sharing a common driveway in most instances.
In order of preference, the rear "C" Units are most desirable because the newer ones have "exclusive use" private back yards that are usually larger than the yards found in "Tall & Skinny" Golden Hills SFRs. After that the front "A" is next in order of preference because it has curb appeal and one common wall and the middle or "B" units often fetch the lowest price.
For both of the Sellers, the reason they sold was job relocation. When actually one property was owned by a soccer player, A.J. DeLaGarza who was traded from the Galaxy. I guess that qualifies as a job relocation.
For both of these listings, the Sellers followed my pricing strategy which is to set a price that will get the most traffic and offers in the shortest amount of time. That means pricing lower than you think the home will sell for. Ultimately the market, not the Seller or Agent, decides the price. And by the "market" we mean Buyers.
Another observation: the three Redondo Beach homes were sold for $865,000, 910,000, and $1,270,000 which averages out to $1,015,000. That was simply not a price point we saw as "average" in Redondo Beach a few years ago but is an indication of how much prices have gone up. If you are interested in how much your home may be worth, here's a quick guide for online values.
2411 Carnegie Lane Unit C, Redondo Beach 90278
I last sold the home (pictured above) for $808,000 in 2014 when it was also my listing. This time around it was listed for $875,000 and went for $910,000 with multiple offers after being on the market for 3 days.
2411 Carnegie Lane Unit C is by far one of the nicest and largest 4 bedroom 3 on a lot rear unit Townhomes in North Redondo Beach. Built in 2005 by Casner Construction everything about this rear end unit on a quiet section of Carnegie Lane is exceptional. Downstairs are two bedrooms both of which have wood frame doors leading to the oversize backyard. There is also a full bath and direct access to the 2 car garage. Upstairs are 2 more bedrooms and 2 full baths, one ensuite in the master bedroom and the other in the hall. The great room is much larger than typically found in 4 bedroom 3 on a lot floorplans as is the "to die for" kitchen with double ovens and gorgeous counters and cabinets. There are also real hardwood floors upstairs. Tons of detail through out including high ceilings, wood doors, 8 foot doors, coffered ceilings, crown molding. There is a large private backyard accessed through doors in both downstairs bedrooms and 3 FULL baths.
2224 Gates Ave Unit A, Redondo Beach 90278
I represented the Buyer for this purchase (pictured above). This property is a detached 2 on a lot. Because the lot is somewhat smaller than most 7500 SqFt lots found in this neighborhood, the configuration is "reverse floor plan" as is more often found in South Redondo Beach.
2224 Gates Ave is a high end Casner Construction new construction home. The Mediterranean styling with soaring high ceilings and ambient lighting adds drama and interest to this home?s 2600 plus Sq Ft. At entry level are 2 generously sized bedrooms, a full bathroom with dual sinks, and a separate laundry room, including top of the line washer and dryer. Continuing to the 2nd level you will find yourself amidst the open concept living room, dining room, and kitchen. The gourmet kitchen is appointed with Viking appliances, granite counter tops, all flowing to the dining and living room with fireplace and adjoining spacious balcony, making entertaining a mere blink of the eye while still being a part of the festivities. On the 3rd level is a loft/bedroom with private bath and roof top deck fully equipped with electrical, water and gas to truly enjoy the serenity of this 4th bedroom.
As is common with much new construction homes in North Redondo Beach, this one was initially price much higher than the final sales price of $1,270,000 and was ultimately on the market for 161 days (clearly not my listing).
Because of the prevalence of new construction in Redondo Beach which is typically priced higher than the final sales price and stays on the market longer, the DOM and other data points in Redondo Beach are somewhat distorted.
2205 Rockefeller Lane Unit C, Redondo Beach 90278
2502 Rockefeller Lane (pictured below) features a large, open floor plan. Very spacious and over size end unit with soaring vaulted ceilings is until you come inside. And with a spacious backyard and upstairs terrance there's plenty of room for outdoor living too. With no buildings to the east, natural light floods the unit which faces south and west. Upgrades abound and this home offers luxurious finishes including, stainless steel appliances and granite counters in the kitchen, travertine throughout, recessed lighting, high end cabinets and more. The second floor, with its open-plan great room, stunning slate fireplace, high ceilings and contemporary kitchen with breakfast bar has a loft like feel. Also upstairs is the master bedroom with en suite bathroom, as well as a another bedroom and a separate powder room. The lower level features two more bedrooms each with doors leading to the turf covered private backyard. Also downstairs is a laundry area, and access to the 2-car garage. Tons of storage throughout. Recent upgrades include painting and carpet plus A/C which most homes in this neighborhood wish they had. Enjoy the Beach Cities lifestyle from this convenient location close to restaurants, shopping, malls, parks, movie theaters, the Redondo Beach Green Belt and the Beach, with easy freeway access.
We listed this one for $839,000 and it sold for $865,000 after 8 days on the market.
SOUTH BAY REAL ESTATE
770 Imperial Ave Unit 83 El Segundo CA
Everything in the interior is new with a down to the studs remodel including all new plumbing, new electrical panel, new electrical throughout including LED lighting, new hardwood floors, brand new custom built cabinets, new stainless steel appliances(refrigerator, range, oven, dishwasher), new and redesigned 2.5 bathrooms with custom LED mirrors, new laundry closet with washer and dryer hookups, new large closets for both bedrooms. Wow!
Each bedroom has its own bathroom. Great location near multiple amenities including LAX, 105 and 405 freeways, Downtown El Segundo as well as local parks and schools. The HOA community offers large pool, spa, sauna, and fitness center.
Great starter condo and rental unit later on. Sold for $550,000.
22724 Figueroa St Unit 5 Carson 90745
I represented the Buyer of this cozy condo with Aaron Grossman. It is conveniently located to all amenities of life. Easy access to major freeways, close to schools, parks, shopping centers, restaurants, and churches. Home has been recently been updated with the following; new laminated wood flooring through out, interior paint, light fixtures, fireplace backsplash, kitchen counter tops and cabinets, bathroom sink counter tops, bath tubs, bath backsplash, mirror sliding closet doors, and much more. Property features a fenced patio area, laundry hooks ups inside of home, 2 carport spaces with 1 storage, central heating, fireplace, small pets are allowed and association pool for those hot summer days. Priced at $349,000, we got it for $340,000.
19328 Entradero Av, Torrance 90503
I represented the Buyer of this charming single family residence in West Torrance. This home offers 3 bedrooms and an entertainer’s back yard. A lovely seating and entertaining area as you walk out the back door and a tranquil surprise as you enter the Jacuzzi area. This home has smooth ceilings, crown molding, newer carpet (hardwood floors under carpet) and flooring, 2 car detached garage with tons of storage. Roof is 3 years new, copper plumbing, koi pond and new side gate. The dining room chandelier is excluded from the listing. Close to beaches, 10 minutes to Redondo & Hermosa Beach Piers, local parks and more.
Priced at $799,000 but we got it for $759,000 with a sewer line repair!