The South Bay has come of age, not just attracting high-end homebuyers (see Manhattan Beach Leads South Bay in High-Priced Sales) but also the attention of that coterie of agents who sell high-end homes on "reality" tv.
It's always been interesting to us how some homesellers and viewers of Million Dollar Listing LA will sometimes reach out to the stars of that show in order to catch some of that star power cachet and put it to work behind their own listings, despite the fact these agents are not based in the South Bay.
The home pictured above - 718 The Strand in Hermosa Beach - is the most recent example of this phenomenon.
This contemporary, 3-bedroom beach front home was designed by architect Dean Nota and constructed in 1999. It previously languished on the market with a local agent in 2012-13, then again in 2016 and for part of 2017 with no takers. The last list price was $7,500,000.
But now (curiously, just as we're approaching the traditionally slow holiday season), the home is back on the market with one of the stars of the Bravo TV show, Million Dollar Listing Los Angeles.
And, as we see all the time in our biz, the sellers obliged their new agent with a substantial price reduction and the home is now newly-listed for $6,995,000.
A reality show agent also listed this magnificent Manhattan Beach Strand property, again after a 6-month stint back in 2016 with a local realtor. However, this listing has been problematic, despite the excellent location and the truly luxurious finishes.
When this home debuted on the market in late 2016 with the tv agent, it was actually the subject of some discussion on an episode of the show itself, the concern being how the home should be priced. In that episode, they settled on $19,995,000, yet here we are two years later and $4 million lower and the home is still looking for a buyer at $15,999,999.
In what almost seems like slumming, another of the stars of Million Dollar Listing LA listed and sold this single family residence in South Redondo for $1,435,000 over the summer (starting list price - $1.5 million). The home is located in a gated community and features 4 bedrooms in 2,943 square feet.
Not being the glamorous, multi-million dollar listing we've come to expect on Million Dollar Listing LA, this home didn't make it into the show itself (though one might wonder 'why not?', given it meets the definition in the show's title).
For something completely different, click on the address above to get the details on this 9-bedroom, 25-bath (that's not a mis-print) 51,000 sq.ft. Rolling Hills home spread out over 7½ acres that is the most expensive home ever offered in the South Bay and the Palos Verdes Peninsula.
Currently under contract with a list price of $40,000,000, this home started its search for a buyer back in the summer of 2013 at the nosebleed price of $53 million.
Here we are 5 years, a half dozen agents and a $13 million cumulative price reduction later and it looks like the search has come to an end. Along the way, back in 2016, the home made it onto the listings roster of one of our Bravo TV agents, but he was just one in a long line to try to accomplish this difficult marketing task.
So, as you can see, the South Bay is no stranger to reality tv agents making the trek down the 405 from the westside to sign up high-end - and occasionally more modestly priced - homes with promises of possible tv exposure and large social media followings to up the odds of success. However, as you can tell from the properties detailed here, the results, to date, have been decidedly mixed.
This entry was posted under South Bay Real Estate News.