There are 19 blog entries for March 2012.
Thursday, March 29th, 2012 at 10:03pm. 458 Views, 0 Comments.
Across the South Bay, inventory is down one-third (33%) from the same point last year. (Click any chart in this post to enlarge.)
MB is faring slightly worse with a 39% drop in SFR inventory year-over- year, one factor in the quick sales and even multiple-bid situations we see around town with good new listings.
As you'll see in MB Confidential's new charts here, MB inventory isn't lagging as much on a percentage basis as Redondo or Hermosa.
However, in absolute numbers, MB inventory is down the most from 2011 among the beach cities. There are 43 fewer SFR offerings now than there were at the same moment last year.
Buyers looking at MB SFRs have 67 options today. Last year: 110.
Wednesday, March 28th, 2012 at 4:15am. 402 Views, 0 Comments.
Among those to linger – just a bit – there's quite a range. Let's look at them by submarket; focusing on truly new 2012 listings. (We'll cover west of Sepulveda here first, but East MB will get its due.)
Tree Section: Rosecrans-Adjacent Division
3601 Elm (5br/3ba, 2400 sq. ft.) is one of the better homes on offer in the Trees now, a very sharp remodel. Yes those are 5br, and the gardens are a big plus, if you dig that sort of thing.…
Monday, March 26th, 2012 at 11:02pm. 654 Views, 0 Comments.
759 27th (4br/3ba, 3300 sq. ft.) is the latest to close, the third overbid sale of 2012, and here the existence of multiple offers led to just a $10k increase from the asking price.
A sale at $1.589m still looks downright non-crazy in a year that's got buyers feeling nervous and sellers ever so tentatively asking: Is this our game again?
You may recall when 759 27th debuted in January, nearly occupying the field alone for Tree Section buyers wanting 4+br, 3000 sq. ft. and a good location. We said in our review at the time that this one "checks a lot of boxes, with a very modern kitchen and master bath, a pretty nice…
Sunday, March 25th, 2012 at 1:09am. 600 Views, 0 Comments.
In a time of limited inventory, we see some niches being filled for the first time in a while – the big non-ocean-view Hill Section manse, a South End cottage, the one and only Sand Section plateau offering (ok, this is just its first open, it's not a new listing) and even some great options for Tree Section buyers who can run with lesser locations.
To plan out your weekend tours, try this Redfin map list of open houses – you can sort by price or sub-region of MB by clicking the title on a column. Or click here for the more traditional Beach Reporter list of opens.
As always, click on any highlighted address…
Thursday, March 22nd, 2012 at 7:12pm. 587 Views, 0 Comments.
The blog author, Dave Fratello, also represents several buyers who are among those looking. These are very well-qualified buyers and great families who just aren't finding what they need.
So we're just going to straight-up ask: Have you got something our buyers might want?
MBC's readership includes hundreds of local homeowners, residents and agents, not to mention plenty of people monitoring our market for the possibility of buying in some day.
So who can help us connect the great families we know with the homes they're looking for?
Here is an overview of our clients' Wanted Properties:
• MB Trees: 4-5br, ~3000 sq. ft., good…
Wednesday, March 21st, 2012 at 2:18pm. 688 Views, 0 Comments.
Don'tcha kid yourself. No one saw this coming.
Fall 2011 didn't have much of this flavor. Winter saw barren branches – no surprise, there's often a dip in inventory. There were a couple of little frenzies (like with 800 19th), but you could see why those seemed like isolated cases.
But once 2012 got under way, maybe we did start to see some signs. Indeed, MBC has reported on several eye-opening sales, but not always with an emerging pattern in mind.
Now, look at 3 properties in marginal/negative locations in the Hill Section. All wound up receiving multiple offers and going over asking:
Monday, March 19th, 2012 at 10:40pm. 652 Views, 0 Comments.
When people are at loggerheads on a neighbor dispute and just can't work things out, the authorities get involved. And that's what happened at 7th/Highland over the past few years.
|Tree cut by city after complaint by neighbor|
Citing city rules regarding the height of foliage along Sand Section…
Saturday, March 17th, 2012 at 5:37pm. 620 Views, 0 Comments.
Inventory continues to expand. Tree Section buyers will find 3 attractive new options, the must-see of which might be 2001 Pacific, a freshly remodeled little cottage, though it's a close call. No doubt the most curious option for the weekend is the first on our list, 1027 Boundary Place in the Hills – see that for something truly unique.
To plan out your weekend tours, try this Redfin map list of open houses – you can sort by price or sub-region of MB by clicking the title on a column. Or click here for the more traditional…
Friday, March 16th, 2012 at 2:10pm. 397 Views, 0 Comments.
Well, maybe that's the wrong question, because someone just paid more than you would consider.
Over at 1805 John St., they just held something of an auction.
We're inviting you to vote in our new pricing poll, to guess what the closing price at 1805 John might be. Take your best guess; we'll run the poll till next Tuesday, 8pm.
Turns out, there weren't only 18 bidders. Last count was 20. One offer has now been accepted.
Twenty bidders reflects a lot of things. Scarcity. Rareness. A market that's heating up. The fairly prime location. (It's clearly an A if we can allow that there are also A+ and A++ locations, objectively.)
Mix into that the wild range of interests among those 20 buyers.
Thursday, March 15th, 2012 at 4:55am. 678 Views, 0 Comments.
"HOME PRICES ARE DROPPING IN MANHATTAN BEACH."
That voice was this voice, in the first post on Manhattan Beach Confidential, March 15, 2007.
A lot of things followed. There were more posts. There was some news, even some controversy. Suddenly there were more readers. And more. And a raucous comments section.
The local housing market took the predicted dive, with transactions dropping sharply and prices dropping 18-25% through 2009-2010, depending on how you analyze things.
The gears shifted here at MBC in Year 4. The author, Dave Fratello, dropped his anonymity (ok, my anonymity!), started a newspaper column, got a real estate sales license and…