Two recent home sales ordered by the Feds show that, while crime doesn't pay, it can be highly profitable here in the beach cities. Check out how much the owner/seller would have made on the sale of two Sand section homes had they not been purchased with questionable funds.
Extremely large lots, many with ocean views, are rapidly being developed in the Manhattan Beach Hill section. Look for a slew of brand new homes in the Hill section in 2020. Will any be available for sale?
A well-known figure in the sports media field recently purchased the fourth most expensive home ever sold in the Manhattan Beach Tree section. You can read more here.
Just as Gloria Swanson proclaimed herself ready for her closeup in Sunset Boulevard, a few homesellers, captivated by the 'reality' tv show Million Dollar Listing LA, have decided their homes were similarly ready for a tv closeup, or at least the cachet of a reality tv agent to help juice their homes' marketing efforts. For the results of this strategy, read on.
Proposition 10 would repeal previously-enacted legislation that limits the ability of communities to impose rent control on apartments built after 1995, individually-owned single family homes and vacant rental units. This is a bad idea that will only make rental housing scarcer and, paradoxically, more expensive. We urge a No vote on Prop 10. Read more here.
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.