Vote Yes! on Proposition 5, the Property Tax Fairness Initiative, this November. This post will explain how this initiative works to benefit seniors and disabled persons (as well as those who lost their homes in a natural disaster) by enabling them to move to a new home in California without absorbing an exorbitant property tax bill going forward.
Just as we were reflecting on the market softness at the upper end of luxury home sales here in the South Bay, a super luxurious 3-year old Tree section home listed for $6.7 million sells in a week. Seems like the real estate gods are toying with us.
Mike and Sachi just put into escrow a 1700 sqft fixer on a prime East Manhattan lot. List price was $1,579,000. This is the 5th developable lot we've sold this year in Manhattan Beach. You can read more about this and the other 4 lots we've sold so far in 2018 here.
Are upper-end homes sales starting to stagnate in the South Bay? Check out some of the more expensive homes that are still searching for buyers, even, in some cases, with the added publicity of having appeared on hit television shows.
Is the housing market slowing down in the South Bay? The economy is still strong and mortgage rates are relatively low but what does the data tell us? You can find out here.
The Manhattan Beach City Council met August 21 and approved the draft "Five-Year Plan to Address Homelessness in Our Community." Here are the key takeaways from that council meeting's discussion of the plan.
Another lot sale from Michalski & Fujita, this one an ocean-view Sand section corner half lot at 328 25th Place, Manhattan Beach. The photo is the original, 1927-built, one-bedroom, 556 sqft (yes, you read that right) home. Look for a new home from premier local home-grown builder Fluent Homes in 16-20 months.
The current draft proposal to address homelessness in Manhattan Beach is up for discussion and comment at the next City Council meeting, August 21
. The proposal is long on generalities, short on specifics and, worst of all, seems to de-emphasize enforcement of existing city ordinances. Could make for an interesting meeting.
Our latest new construction sale - 2101 Elm Avenue
in the Manhattan Beach Tree section - proves once again the efficacy of our lot sale program
. The original lot owner got multiple offers from developers and a premium price without paying a commission and the winning bidder got a well-located, flat, west-facing lot which they were able to develop into a premium modern farmhouse-style home that sold over list price. We love it when a plan comes together.
Yet another $6 million sale of a large ocean-view Manhattan Beach Hill section lot transpired recently. The buyer was the next-door neighbor but which one? The international tennis star or the founder and partner in a successful private equity firm? Find out here.