#MarketUpdateMonday: Hollywood Riviera July 2017

The Hollywood Rivera sales slowed through summer as inventory was so low. Only 7 homes sold in the 90277 Zip code of the Hollywood Riviera, however, average days on market was only 5 days! 

Here are some quick stats on Hollywood Riviera below: 

Number of Homes Sold: 7 

Lowest Sales Price: $875,000 (2 Bed | 3 Baths | 1,342 SF | Townhouse) 

Highest Sales Price: $1,287,000 (3 Bed | 2 Bath | 1,546 SF | 6,868 SF Lot) 

Average Sales Price: $1,099,143

Median Sales Price: $1,100,000

Average Price Per SF: $823.25

How Many Homes Sold Over Asking: 3

Average Days On Market: 5 Days 

The photos are from a great ocean view town-home that ended up for selling $80,000 over list price at $1,072,000. With three beds, two and a half baths at 1,900 SF, and unobstructed views of the ocean, this is a great alternative to a single family. 

*Images provided by the MLS.

#MarketUpdateMonday: South Redondo Beach July 2017

The South Redondo Beach real estate market cooled off a bit this summer for the month of July. June started out strong with over 38 sales, but July had just 26. However, the 26 sales were strong sales boosting the average purchase price for the month to $1,139,284 from $1,028,891 in June. 

Check out how the market fared below: 

Number of Homes Sold: 26

 

Lowest Sales Price: $385,000 (1 Bed | 1 Bath | 669 SF | Condo)

Highest Sales Price: $2,275,000 (4 Bed | 3.5 Bath | 4,049 SF | 8,100 SF Lot) 

Average Sales Price: $1,139,284

Median Sales Price: $1,205,000

Average Price Per SF: $735.48

How Many Homes Sold Over Asking: 11 

Average Days On Market: 24 Days 

The photos are from a classic beach home on Pearl Street, that was listed at $1,295,000 and sold over asking at $1,350,000. Just a few blocks away from the beach, an ocean view, and great outdoor space, its a great home with 3 beds, 2 baths, 1,474 square feet sitting on a 4,793 square foot lot. 

 

*All information and photos is from the CRMLS. 

Home Lovers: Outdoor Showers

Because we live by the beach, we are seeing outdoor showers in almost every new construction home, and a good portion of older homes, as well. Here are some things to keep in mind for outdoor showers: 

1. Makes Going To The Beach Easier

This of course is the obvious one. It keeps the sand and salt outside, where rightfully it belongs and not on your couch, floor or furniture. You can also use it to wash off your beach toys, surfboards, paddlebaords, chairs, etc. If a full shower isn’t for you, a foot shower  can accomplish the same. 

2. Awesome For Kids

Even if they haven’t been at the beach, if they have been rolling around in the mud, or playing outside, they always seem to appreciate the outdoor shower, given the right weather outside.  

3. Great for Dogs and Gardening

This is a great option to using a hose for your dog or gardening tools, or your hands and feet after gardening. The shower also makes it less messy of a task when washing the dog off. (And hopeless keeps the wet dog smell outside!) 

Given all the positives, it is also important to remember the contrary. The water bill can definitely rise, they are expensive to install especially living by the beach because of the salt water and corrosion, and you must be consistent with cleaning the drainage. 

Check the photos above for some favorite outdoor showers we have come across.

#MarketUpdateMonday: North Redondo Beach June 2017

Wow! The North Redondo real estate market in June certainly came in hot! With 45 homes sold in just 31 days, and with over half of them selling over the asking price, I’d say the summer is off to a strong start. Check out the sales stats below:

Number of Homes Sold: 45 Homes 

Lowest Sales Price: $575,000 (3 Bed | 2 Bath | 1,336 SF | Condo) 

Highest Sales Price: $1,407,500 (4 Bed | 3.5 Bath | 3,013 SF | 5,001 SF Lot) 

Average Sales Price:  $969,037

Median Sales Price: $950,000

Average Price Per SF: $555.26 

How Many Homes Sold Over Asking: 30

Average Days On Market: 27

The photos above are of the highest sold home, with 4 beds, 3.5 bathrooms, and on a single family home lot, which is rare in North Redondo Beach. 

*Photos and information provided by CRMLS.

Home Sellers: Due on Sale Retrofit Requirements

If you are a property owner interested in selling, there will be some things about your home and city you will want to get acquainted with prior to putting it on the market. While you want to deal with the aesthetics, as well, you will also want to consult with your city to see what are the requirements you need to complete in order to sell your property. These are called “Due On Sale Retrofit Requirements”. 

With understanding and completing these items, it gives buyers less room to either ask for a credit and renegotiate the price. 

Here are some examples of what certain city requirements may be: 

Smoke Detectors 

C02 Detectors 

Double Strapped Water Heaters 

Seismic Gas Valves 

Low Flow Toilets 

Low Flow Plumbing Fixtures 

These are just a few that we see common in South Bay cities. As the owner, you will want to consult with your realtor or the city to make sure you are in compliance. 

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#MarketUpdateMonday: Hollywood Riviera June 2017

The Hollywood Rivera sales continued to increase in June, a major part playing into an ocean front home that sold for $5,920,000. Although, 7 homes out of the 12 sales sold over asking price so the demand is increasing as we get into summer. 

Here are some quick stats on Hollywood Riviera below: 

Number of Homes Sold: 12

Lowest Sales Price: $830,000 (2 Bed | 2.5 Bath | 1,360 SF | Town-home) 

Highest Sales Price: $5,920,000 (5 Bed | 4 Bath | 3,250 SF | 22,289 SF Lot) 

Average Sales Price:  $1,828,450 

Median Sales Price: $1,587,500

Average Price Per SF: $894.98

How Many Homes Sold Over Asking: 7

Average Days On Market: 17 Days 

The photos above are from the ocean front home that sits on over 22,000 square feet of land with direct access to the sand. It was built with a modern coastal design back in 2010, and has 5 bedrooms, 4 bathrooms, jacuzzi, sauna and wine cellar. 

*Images provided by the MLS. 

Home Lovers: In Love With (Freestanding) Tubs

Home Lovers: In Love With (Freestanding) Tubs

If you are doing a bathroom remodel and want to add a freestanding tub, there are some things you are going to want to take into consideration. 

Tub Size: 

Figure out how much space you have, not only in your bathroom, but also in your house with door ways, hall ways, and stairwells, since you will need to transport the tub. 

Consider who will be using the tub and for what uses. This will give you an idea of size and type, based on adults versus children, and simple bathing versus long baths. 

Tub Styles: 

There are different tub styles to accommodate bathroom designs and decor. From modern, to pedestal, to plinth. Soaking tubs are more conducive for longer baths, while slipper tubs are higher on one end which makes it more comfortable for resting. 

Tub Materials: 

Acrylic: Lightweight and comes in a variety of designs. 

Cast Iron: Heavy, and great for a restored home with an old-fashioned design. 

Copper and Stainless Steel: Easy to maintain, and add a pop of design to your bathroom. 

Stone: Extremely heavy, so its important to make sure your floor can support such a heavy tub made out of materials such as marble or granite.

Where To Buy: 

Waterworks

Home Depot 

Signature Hardware 

Lowes 

Wayfair 

And of course…Amazon

Head over to our contact page to reach out to us for any other information of contractors for remodels and installations. 

*Images provided by Google. 

#MarketUpdateMonday: South Redondo Beach June 2017

With a lack of new inventory coming into the market, the South Redondo Beach real estate market declined in June 2017 from May 2017, however, the number of homes that sold over asking jumped to 22, from just 16 in May. 

Here are some quick stats below: 

Number of Homes Sold: 38

Lowest Sales Price: $550,000 (1 Bed | 1 Bath | 717 SF | Condo) 

Highest Sales Price: $1,774,350 (3 Bed | 2 Bath | 1,785 SF | 7,565 SF Lot) 

Average Sales Price: $1,028,891

Median Sales Price: $981,000

Average Price Per SF: $678.90 

How Many Homes Sold Over Asking: 22 Homes 

Average Days On Market: 20 Days 

Check out the photos of our ocean front condo listing that sold with multiple offers for $1,512,000.

South Bay Lovers: Fourth of July Firework Shows in the South Bay

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The South Bay is an amazing place to celebrate the Fourth Of July. With (hopefully) good weather, it doesn’t get much better than being by the beach. Check out below where you can catch some of the firework shows and some special events: 

Redondo Beach: 

The annual Redondo Beach Fourth of July celebration is held at Seaside Lagoon beginning at 2 PM. There will be live bands, activities, food, drinks, dancing and plenty of activities for children. The firework show will begin at 9 PM and can be seen from all along the Esplanade. 

Torrance: 

Torrance will be doing a 4th of July event at the Toyota Sports Complex. You will need tickets to get into the venue and you will have to order them in advanced. They can be picked up at the James Armstrong Theatre at the box office (3330 Civic Center Drive). For more info call 310-618-2930

El Segundo: 

The El Segundo celebration will begin at 10 AM at Recreation Park (401 E. Sheldon Street). All day entertainment such as water balloon tosses, pie eating contests, and live music will be taking place. Fireworks begin at 9 PM. To buy tickets or reserve seats, call 310-524-2700

 

Events: 

4th of July 5K:

The 22nd annual 4th of July 5K will be in the Riviera Village in Redondo Beach. The event will start at 8 AM and they anticipate about 5,000 runners this year. The post party will be held at Rock&Brews. 

Palos Verdes Estates Independence Day Celebration:

Beginning at 9:30 AM at Malaga Cove School, Palos Verdes Estates will celebrate their  4th of July celebration that includes a kids bike parade and Apple Pie Contest. It is open and free to the public, held at 300 Paseo Del Mar. 

Hermosa Beach IronMan: 

A South Bay classic event that rounds out the morning with a lot of entertainment to start your day. Its definitely our most unique event where competitors run a mile, paddle a surfboard a mile, and then drink a 6-pack of beer. The first to complete this (and hold the alcohol down) wins! The festivities begin at 9 AM in Hermosa Beach if anyone is interested in joining 1,000 other people watch this event play out. 

Other Events: 

Many neighborhoods, streets, and restaurants across the South Bay all have their own events during the Fourth Of July, as well. Check in with Baleen Kitchen, Shade Hotel Redondo Beach, Abigail and Alta House, and Naja’a Place just to name a few for other festivities.

MarketUpdateMonday: North Redondo Beach May 2017

The North Redondo Beach real estate market had a fire month for May 2017. With 48 properties closing escrow, with an average of just 37 days on the market, the inventory moved very quickly. North Redondo has a great school district and is a convenient location to live if you work in El Segundo or are a consistent freeway commuter. With El Segundo adding over $3M square feet of office space, the South Bay market will only continue to get better. 

Check out the North Redondo Beach market sales in June 2017 below: 

Number of Homes Sold: 48

Lowest Sales Price: $575,000 (2 Bed | 3 Bath | 1,297 SF | Town-house)

Highest Sales Price: $1,339,000 (4 Bed | 3.5 Bath | 2,500 SF | Town-house) 

Average Sales Price: $994,672

Median Sales Price: $1,025,000

Average Price Per SF: $575.40

How Many Homes Sold Over Asking: 23 Homes (20 Homes sold under asking) 

Average Days On Market: 37 Days 

Check out the photos of a great Mid-Century modern house that was listed at $910,000 and sold for $965,000. This property is 3 bed, 2 bath at 1,260 SF on a 4,994 SF lot. While single family homes aren’t as common in North Redondo as town-homes and condos, this is an example of a typical single family home on a decent sized lot for the area. 

 

*All information and photos are from the California Regional Multiple Listing Service. 

South Bay Lovers: Farmer’s Market Schedule

Redondo Beach 

Redondo Beach Pier: 

Location: 309 Esplanade Redondo Beach, CA 90277

Day & Time: Every Thursday, 8 AM to 1 PM 

Riviera Village: 

Location: 1801 S. Elena Avenue Redondo Beach, CA 90277

Day & Time: Every Sunday, 9 AM - 2 PM 

Hermosa Beach

Location: 34-36 Pier Avenue Hermosa Beach, CA 90254

Day & Time: Every Wednesday, 11 AM - 4 PM 

Manhattan Beach 

Location: 326 13th Street Manhattan Beach, CA 90266

Day & Time: Every Tuesday, 11 AM - 4 PM

Palos Verdes

27118 Silver Spur Road Rolling Hills Estates CA 90274

Day & Time: Every Sunday, 8 AM - 1 PM

Torrance

Location: Charles H. Wilson Park

Day & Time: Every Tuesday and Saturday: 8 AM to 1 PM 

#MarketUpdateMonday: Hollywood Riviera May 2017

The 90277 portion of the Hollywood Riviera had a strong month prior to summer with the all original homes that sold. The market is still going strong with the average days on market going from 42 days in April, down to just 8 days on the market in May. 

Here are some quick figures on Hollywood Riviera below: 

Number of Homes Sold: 4

Lowest Sales Price: $950,000 (3 Bed | 3 Bath | 1,884 | Town-home)

Highest Sales Price: $1,765,000 (5 Bed | 3 Bath | 2,570 SF | 6,837 Lot SF) 

Average Sales Price: $1,463,500

Median Sales Price: $1,569,500

Average Price Per SF: $779.02

How Many Homes Sold Over Asking: 2 Homes

Average Days On Market: 8 Days

The photos above are from a great original home that sold over $100,000 over the asking price and closed at $1,600,000. The view of the entire Queen’s Necklace from the living room is stunning, additionally it had a pool in the backyard.

Home Sellers: Details Prior To Closing Escrow

Selling a home can be stressful between the showings, open houses inspections, and paperwork to name a few, a few details prior to moving to your new home can be left behind. Check out our quick guide below of some things you won’t want to forget prior to moving! 

1.Shut Off Utilities / Services

Once all the buyer’s contingencies have been removed, you should start preparing for the next phase of the escrow closing and moving process. As the seller, you are contractually required to leave the utilities on through the close of escrow. That being said, contact the correct utility companies and coordinate with the buyer to have them changed into the buyers name. Also, make sure to remember to do the same for the cable company, wifi company, alarm systems, and gardener and pool man, if necessary. 

2.Change Mailing Address

Typically, when you sell a home you are moving to a new address. If you are moving and not renting back for a considerable amount of time (or Hugh Hefner who has permanent residency for the remainder of his life), you will want to coordinate with the post office to change your mailing address. 

You can either do so by going into your local post office and picking up a Mover’s Guide or go online here: https://www.usa.gov/post-office

3. Organize Keys/Remotes

As the seller knowing all the ins and outs of the home, you will want to make sure the new owners have a seamless transition. Make sure to organize all of the keys and remotes to the home. This may include separate keys for entrances, gate openers, garage openers, mail box keys, common area keys if you live in a complex, etc. 

4. Take Inventory and Donate or Sell

Prior to moving all of your belongings, its a good time to figure out which items to move to your new home, get rid of, donate or sell. In this time period, you should take inventory and separate everything out, then you can coordinate the correct moving trucks, schedule a donation pick up, or an estate sale. 

5. Schedule Movers

Once you have parted ways with the items you don’t want to move, its best to coordinate with a moving company to come take a look at your items to give you a quote and set a date. This way, you aren’t left with any surprises with the price and you can make sure to let them know about any items you think should be handled with care. 

#MarketUpdateMonday: South Redondo Beach May 2017

Great news for South Redondo Beach, the prices are not showing any signs of slowing down. The average price went up $107K from just April 2017 to May 2017. Additionally, the average days on market went from 34 days down to 14 days. 

Here are some quick stats below: 

Number of Homes Sold: 28

Lowest Sales Price: $400,000 (1 Bed | 1 Bath | 669 SF | Condo) 

Highest Sales Price: $2,250,000 (4 Bed | 3 Bath | 2,430 SF | 6,029 Lot SF) 

Average Sales Price: $1,258,179

Median Sales Price: $1,260,750 

Average Price Per SF: $712.28

How Many Homes Sold Over Asking: 16 Homes

Average Days On Market: 14 Days 

Check out the photos above of our ocean front condo listing on the Esplanade that sold for $1,298,000. At 1,049 square feet, this 2 bed, 2 bath condo received multiple offers and sold in three weeks with an all cash offer. 

Home Buyers: Details Prior to Closing Escrow

We know the escrow process is tedious with all the paperwork, inspections, deadlines, etc, but there are few things that you need to remember prior to closing escrow to make sure the transition into your new home is as smooth as possible. 

1. Schedule Utilities: 

Make sure to transfer the gas, electricity, water, trash, and other utilities into your name at your new address. You don’t want to be in a situation where you are without power or gas for a few days, so make sure you coordinate this with the current homeowners. 

2. Change mailing Address

We recommend doing this at least two weeks prior to you taking full time occupancy at your new home. It can take a few weeks to implement into the mailing system, so you want to make sure you are doing it in advance enough so you aren’t constantly retrieving mail from your old home. 

You can do so by going to to your local post office and requesting a Mover’s Guide or Online here: https://www.usa.gov/post-office

3. Schedule Locksmith:

You will most likely want to re-key your new home. You don’t know who the previous owners gave keys to and you will most likely want to make sure all the locks throughout the home are cohesive. To make the process seamless, you will want to schedule the locksmith to come at the same time you officially get the keys to your new home! 

4. Schedule Movers:

Unless you are buying furnished and all you need to bring is your toothbrush, we recommend hiring movers well in advanced. Make sure you have them come to your home and give you an estimate on the current furniture you have. This way, you can get an idea of things you should move and items you should donate or sell. 

5. Schedule WiFi and Television Provider

First, you should do some research as to which providers operate in your new location. After getting some pricing, schedule them to come out. Often times they can’t be scheduled for weeks at a time, or cancel last minute so it is important to prepare for this. 

If you’re thinking about moving or buying a new home, head over to our contact page and we can set you up with a step by step guide as to how to minimize your stress and make the process go as smoothly as possible.