A brief foray (back) into management, more Zillow Reviews, Teles acquired by Douglas Elliman, new tax laws affecting Real Estate coming for 2018, and a year of many transitions personally and professionally.
So that's what my world looked like. In no particular order I want to review some of my sales.
There's a lot of anecdotes and behind the scenes discourse so you, my dear readers can get a better sense of what's really involved selling residential real estate. In other words, a lot more up close and personal than my usual blog posts which focus on the facts and just the facts.
2017 Redondo Beach Sales & Listings
Just about half my business, 10 sales were in Redondo Beach so that's still my main market or like Realtors like to say "farm".
Of the 10 sales, 6 were listings and 4 were buyer deals. Of the 6 listings, 3 were properties I had previously listed before. Of those three, on 2 I didn't represent the previous buyer but they came to me when it was time to list! All the listings were in North Redondo Beach (90278) with the exception of one that will close in 2018 in South Redondo Beach.
2411 Carnegie Lane Unit C
Listed for $875K, sold for $910K, in escrow in 3 days with multiple offers. Wow! We had a ton of activity on this one and unfortunately a number of buyers who missed out. I'm sorry but we can only sell them once.
Random memory was that a Westside Agent, I think from the Agency, thought the way to get me to accept his client's offer was to insult me. Really. Hint. Be nice to the listing agent when you are trying to get the deal into escrow.
This was the second time I listed and sold this one. First time around I sold it off market and represented the Buyer and Seller.
Here's my MLS description.
"This is by far one of the nicest and largest 4 bedroom 3 on a lot rear unit townhomes you will find 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 greatroom 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. Wow. Conveniently located near shopping, freeways, restaurants, malls, and only 15 minutes to the beach, don't miss out on this one! Put it on your list to see because you will want it to be your new home."
2502 Rockefeller Ln Unit C
When my professional athlete client was traded to a team in Houston, he had to sell this rear unit 3 on a lot townhome. This is another one I listed and sold 2x. The current sellers were not my clients when they bought it but I guess they liked me better than their prior agent. Great compliment, thank you.
Side note, first time I sold this one it was cluttered beyond belief. My very nice client was a hoarder but with amazing good taste. She had a lot of really nice stuff, just too much of it. This time around it lasted 8 days on the market and was bid up from $839K to $865K.
"If you have been looking for a move in ready, large, open floor plan townhouse in the Beach Cities, look no further, this is the one! You will not believe how spacious this 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. Put 2502 Rockefeller on your list to see because you will want to make it your next move."
2117 Huntington Ln Unit A
Another one I've listed and sold twice and didn't represent the sellers when they were buyers. At that time they had a West Side agent who really didn't know the area and also wasn't very available. Funny how people remember that and reward those who help them out.
So this time around, the Buyers had an agent from the Valley! Very experienced but not in this area.
Here's a good background story about this one.
Before the Valley agent, I mentioned that the listing was coming soon in my network group and a local agent I've worked with previously said he had a client. So we arranged for an "off market" sale at what we thought all in all was a fair price to both parties. Then the problems started. The Buyer was what I would call a known "B" movie star. You would recognize him so I'm sticking to confidentiality here. But as a typical Hollywood type he was most likely used to many people letting him get his way. Same with Mrs.
Halfway through the escrow they decided they wanted to renegotiate the price substantially lower. While my (very attractive but not movie star) Seller clients were willing to do something "reasonable", the Buyers were just pushing it too much. So we let them cancel and returned the EMD. I knew I could sell it for more the second time around.
And I did.
The first time we were in escrow at $1,250,000. Second time we sold for $1,275,000. Total days on market, 8 days.
"Built in 2007 by Casner Construction, this over size Mediterranean Townhome has a unique 2750 square foot floor plan, an enclosed front yard with turf, A/C and Solar Panels. Downstairs is an open great room facing south and west for natural light. The open cook's kitchen has Viking stainless steel appliances, granite countertops, a pantry, and gorgeous cabinets. There's also a formal dining room. Upstairs you'll find 4 bedrooms including an amazing master suite with double door entry, walk in closet, and room for a sitting area in front of a dual sided fireplace that also opens into a master bathroom that features custom tile work and a separate large frameless shower. One of the other bedrooms has its own attached bathroom and a terrace perfect for relaxing. There's also a second living room area upstairs with cathedral ceilings and skylights for just hanging out. The laundry room is on the second level with it's own sink. There's exquisite finish work usually found in much more expensive houses such as 10 foot high ceilings with 8 foot doors, wainscoting, coffered, and vaulted ceilings, and beautiful engineered hardwood downstairs, on the stairway and upstairs in the second living area. There's are just too many features to list. One of the largest North Redondo Beach Townhomes on the market with a very unique floorplan and layout.. Put this one on your list because you will want to make it your new home!"
1733 Aviation Blvd
I've driven past this complex almost every day since it was built and you may have too. Very unique property but in what you would think is a noisy location. Except when you got inside it wasn't.
This one also only listed 5 days on the market and sold with multiple offers.
The successful Buyers were acquiring the property to live in but a few of the bidders were buying it for investment. It's funny but one of those let the deal go over a $5K differential. Not the first time I've seen that. Never makes sense.
My Seller client was able to get a very favorable leaseback so he could look for a rental.
"Beautiful end unit townhome situated in the rear of a private gated Mediterranean style complex located at the border of Redondo Beach and Manhattan Beach. Flexible 3 bedroom floorplan with two bedrooms including the master located upstairs and the third downstairs. The Master Bedroom features a large walk in closet, private balcony and a beautifully finished master bath with dual sinks and a jetted tub. The kitchen, dining room, living room and a 1/2 bath are located on the main level. The kitchen features custom cabinets, granite counter tops and stainless steel appliances while the living room has a fireplace and a sliding door leading to a private patio area. Gleaming cherrywood floors, crown moldings, stainless steel fixtures, dual pane windows, and a 2 car direct access garage. And Air Conditioning to keep you cool when the next heat wave hits. Easy freeway access, 15 minutes to LAX, in top ranked school district, conveniently located near Starbucks, Trader Joe's, shopping, restaurants, movies, parks and just minutes to the best beaches in LA. Don't be fooled by the address - this is a quiet unit located off the street."
2004 Farrell Ave Unit B
My Seller clients of this property used it as a rental unit for a number of years and truthfully it could have used some updating. In fact, I even got quotes for having the work done.
Suffice it to say, this was a good example of if the Seller had paid around $10-15K for some refreshing, it would have sold for $10-20K more.
I get it that some home owners just don't have the funds to do the work which is why in 2018 I am bringing back my "Refresh and Resell" program. That's where I pay for the work amd am repaid at the close of escrow. Obviously certain conditions apply but if your home fits the profile this is a great deal.
"Free standing fully detached townhome with a private backyard. Traditional 3 bedroom floorplan with the living room, dining room and kitchen downstairs and all bedrooms upstairs. The Master Bedroom features large closets and a cathedral ceiling with a private master bath. All bedrooms are over size with ample closets. The living room has updated wood floors and a vaulted ceiling providing more volume than most 2 on a lots. Stainless steel fixtures in the kitchen including dual ovens plus a microwave. Two car direct access garage. Easy freeway access, 15 minutes to LAX, in top ranked school district, conveniently located near Starbucks, Trader Joe's, the Rosecrans corridor, shopping, restaurants, movies, parks and just minutes to the best beaches in LA. Just 1.5 blocks to the border of Manhattan Beach. Bring your painter, designer, imagination and some love to make this one your own."
1900 Slauson Ln
These Sellers, who also had not lived in the home for a while took advantage of my "Free Staging Offer". As a result this end unit 3 on a lot sold for $31K above its listing price of $849K in just 9 days.
"Oversized open and bright 3 bedroom end unit corner lot Townhome with vaulted ceilings, wrap around deck and your own driveway! Upstairs, the large great room features a windows on all sides, a corner gas fireplace, and access to the deck with gas hook ups for your barbecue. There is bamboo flooring in the dining area and the ample kitchen features dual ovens, microwave, granite counters, breakfast bar and more. The large master bedroom on the same level has lots of light, a huge walk in closet and its own bathroom. There's a powder room for your guests upstairs as well as a laundry area for your washer-dryer. Downstairs you will find 2 bedrooms, one of which is much larger than typical in three bedroom units. There's plenty of storage throughout and a direct access 2 car garage. Conveniently located near freeways, schools, shopping, restaurants, and a quick bike ride to the beach. Live the Beach Cities lifestyle at a great affordable price."
1021 Avenue D
How about a contingent relocation sale with the down leg also contingent for fun degree of difficulty?
As nearly impossible as it is to get contingent offers accepted, I was more than a little surprised when I was able to get the relo company to go for this one. Imagine my surprise when I found out my Buyers had accepted a contingent offer on the sale of their house in San Diego which needless to say I was not handling. (Great run on sentence.)
Even more fun was when we were doing the final walk through (all contingencies removed) and my clients get a call from their agent in San Diego that the Buyers for their place didn't sign the loan docs. Whoops.
But after they arranged an alternate private loan we were able to close on time after we did a special recording. You can read the entire story here.
"Great location in South Redondo Beach on cul-de-sac. Fabulous roof top decks with outstanding views. Entry level features master bedroom with fireplace and retreat, secondary bedrooms as well as laundry room. 2nd level features living room, kitchen, dining room and huge family room. Lots of light and views from this upper level. Home also feature large roof top deck. Kitchen features 5 burner gas cooktop along with double oven, stainless steel appliances, island, granite counters and wine cooler."
1806 Carnegie Lane Unit B
"With a far west location, down a quiet block that ends at peaceful Andrews Park, you will find this hidden gem of a home. Spacious and comfortable, this 3 on-a-lot townhome offers 3 bedrooms and 2.5 bathrooms. An inviting living room features soaring vaulted ceilings, oak laminate flooring and is warmed by a fireplace. The living space flows out to a private balcony, revealing lush treetop and neighborhood views, ideal for relaxing or entertaining. Ideally adjacent to the dining room, the kitchen boasts neutral counter tops and newer dishwasher, microwave, garbage disposal, even stainless steel GE Profile refrigerator. Additional upgrades include a newer forced air heater and water heater. Located inside the home, upstairs near the powder room, the laundry closet includes a GE washer and Maytag gas dryer. The Master suite provides a vaulted ceiling, oak laminate flooring, dual closets, plus an en suite Master bathroom with dual sinks and water closet. The additional bedrooms are ample in size and share a full hall bathroom. The 2 car attached garage offers direct access into the home as well as side yard, additional storage space and a newer, automatic, roll-up garage door. Coveted location within easy walking distance of California Distinguished Birney Elementary shopping, near the beach and not too far from freeways."
634 9th St
I represented the Buyers of this "dazzling townhouse, one of '3-on-a-lot', in a prime Hermosa Beach location! There are 4 patio/decks including the roof top deck to enjoy the beach community style of living plus sweeping views! Gleaming Rosewood flooring on the main living level and stairs. The wrought iron railings are beautiful throughout the interior and exterior! The living room has a gas fireplace, vaulted ceilings and windows to make this home light and bright! Sparkling kitchen has granite counters, a breakfast bar, stainless appliances, pantry, wine refrigerator and tumbled marble back-splash! Fully air conditioned throughout and forced air heating! Spacious dining area off the kitchen and a very open floor plan that is great for entertaining! The bedroom level has 3 bedrooms including the gracious master suite with adjacent master bath with bubbling spa tub and separate shower! The loft can be used in many ways including an exercise room, office or lounging area! The double attached garage has direct access into the home plus there are 2 additional carport parking spaces to accommodate guests! The Hermosa Beach schools are highly rated and are located nearby! Excellent restaurants, shops and boutiques are super convenient! The beaches in Hermosa are excellent to enjoy the blue Pacific ocean and bicycling."
I think they got a very good deal at a final sales price of $1,675,000. This sale was almost the text book example of what happens when the Seller starts the listing at too high a price.
Initially this unit came on the market for $1,829,000 and had a number of price reductions the last of which lowered it to $1,699,000. Had it been listed at that price initially, chances are it would have been bid up and maybe sold for $1,725,000. But not my listing and all to the benefit of my Buyers.
Comic relief - about a week or less after we closed the neighbors in the front unit which was virtually identical except for a few extra windows put theirs on the market for $100K more than we closed at. Not exactly sure what their agent was thinking. Like even if they found someone who want to pay that premium, how would it appraise? Punch line, they removed the listing shortly after. Really.
770 W Imperial Av # 83, El Segundo 90245
I was able to help my first time Buyer get this completely updated 2 bedroom condo in EL Segundo with a big ocean view from the master.
The clipper/contractor said "Everything in the interior is new including a down to the studs remodel, 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.
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.
All I can say is considering the location, not quite as loud as you might expect but yes, you do hear the planes!
ThreeSixty South Bay
5419 #103 Strand # 103, Hawthorne 90250
A showcase 2 bedroom that is move-in ready with nice tree, pool & cabana views. This is a south facing "Row Plan 2" and has a sunny open floor plan with elegant finishes. The chefs kitchen has top of the line appliances and an adjoining dining and or family area. The front living area has soaring ceilings and is perfect for those who like both form and function. The master bedroom is spacious and features a private en-suite bath. The second bedroom also has its own private bathroom. The two car garage has side by side parking and lots of storage space. World class resort inspired amenities include an oasis style pool/cabanas with spa tub, a state of the art work out room, a sports court, a pub style billiards room, a toddler park, a peaceful Zen garden, and a newly designed dog park. All located near schools & shops.
TELES PROPERTIES ACQUIRED BY DOUGLAS ELLIMAN
No sooner had I agreed to be the (co) Associate Managing Director of the Teles Manhattan Beach office than the company was sold to Douglas Elliman. Like the first meeting I went to, the (former) CEO of Teles announces they just sold the company. For once I was speechless as I processed the news.
Derek Jeter once said that being shortstop on the NY Yankees was the only job he wanted. Being the Teles manager in Manhattan Beach would have been it for me. As we like to say, I would have crushed it. But once the company changed, well just not me.
Elliman brings a lot to the Teles platform. As a larger and most likely better funded organization with a well tuned marketing department and PR arm as well as broad international reach, they certainly have a lot to offer. For someone else.
I really loved Teles as a Brokerage and feel they really nailed whatever space we were in. Elliman is a different kind of organization and I think over time we will see that Compass, another NYC based Brokerage, takes over the space both locally and nationally that Teles was occupying. If you are reading between the lines that I am not long for the Elliman world, you got that right. Stay tuned to this space for an update as to my next move.
So, ten plus years (on and off) at Shorewood Realtors and just over 3 at Teles. Change, brother. Its the only constant.