December 2012 
There are 15 blog entries for December 2012.
High Points of 2012: Tree Section
Monday, December 31st, 2012 at 3:49am. 327 Views, 0 Comments.
We continue our look back at 2012 with a focus on the Tree Section.
New Construction Over $2.5m
One of the headlines of the year has to be the sudden, near-overnight revival of $2.5m+ new construction prices in the Trees.
Given that the last round of new spec building finished in 2006-2008, most "newer" homes on the market are at least 5 years old, adding scarcity to the often-prevalent demand and premium for "new."
712 29th (5br/5ba, 3350 sq. ft.) closed in October for $2.580m. It's on a standard lot (4800 sq. ft.), acquired for $962k in Oct. 2011 – one of the last good lots you'll see go under $1m for a while.
616 30th (5br/4ba, 3350 sq. ft.) closed in August for $2.512m. Again, it's a standard-size lot (4800) and acquired in 2011…
New Construction Over $2.5m
One of the headlines of the year has to be the sudden, near-overnight revival of $2.5m+ new construction prices in the Trees.
Given that the last round of new spec building finished in 2006-2008, most "newer" homes on the market are at least 5 years old, adding scarcity to the often-prevalent demand and premium for "new."
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| 712 29th (rendering) |
616 30th (5br/4ba, 3350 sq. ft.) closed in August for $2.512m. Again, it's a standard-size lot (4800) and acquired in 2011…
High Points of 2012: Sand Section
Friday, December 28th, 2012 at 3:53pm. 319 Views, 0 Comments.
It's been a year full of activity and occasional frenzies, and there are many more interesting sales to look at as 2012 draws to a close.
We'll look at each of several areas of Manhattan Beach separately, starting with the Sand Section.
Strand Sales
There were 8 sales on The Strand this year, of which 4 were in the $5.2-$5.8m range.
Only one was a standout, top-tier, ready-to-go Strand residence: 1712 The Strand (4br/5ba, 3350 sq. ft.). Not incidentally, it also commanded the year's highest Strand price: $10.5m, way back in March.
Notable for different reasons were 2 long-running, hard-to-sell Strand options that did close this year, finally: 2920 The Strand ($9.250m in January), a 4-year-running listing where a remodel project is now…
We'll look at each of several areas of Manhattan Beach separately, starting with the Sand Section.
Strand Sales
There were 8 sales on The Strand this year, of which 4 were in the $5.2-$5.8m range.
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| 1712 The Strand |
Notable for different reasons were 2 long-running, hard-to-sell Strand options that did close this year, finally: 2920 The Strand ($9.250m in January), a 4-year-running listing where a remodel project is now…
Keys for Christmas
Monday, December 24th, 2012 at 6:44pm. 362 Views, 0 Comments.
We can chat about real estate all day in terms of data and analysis, but in the end, it's about home. We were vividly reminded of that in handing over keys to a buyer client just the other day (outside MB, as it happens).
So who else will be in new homes for the holidays? Here are a few notable recent sales.
The biggest price crunch of the bunch came at 2115 Valley (3br/3ba, 3470 sq. ft.).
Now, you'll only see 31% price cut when the start price is way out of whack. But that's the story here at the home we dubbed "The Labyrinth House" in our early-October "Weekend Opens" post.
2115 Valley started at $1.825m, and came down $575k to close at $1.250m.
A 1.2-ish price for an odd house on a busy street doesn't seem so bad. You just wonder what…
So who else will be in new homes for the holidays? Here are a few notable recent sales.
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| 2115 Valley |
Now, you'll only see 31% price cut when the start price is way out of whack. But that's the story here at the home we dubbed "The Labyrinth House" in our early-October "Weekend Opens" post.
2115 Valley started at $1.825m, and came down $575k to close at $1.250m.
A 1.2-ish price for an odd house on a busy street doesn't seem so bad. You just wonder what…
Last War of 2012
Friday, December 21st, 2012 at 4:30am. 317 Views, 0 Comments.
This year, 2012, was the year of the return of the bidding war.
It looks like we can call 1201 Lynngrove (3br/2ba, 1975 sq. ft.) the last of 2012, unless some true shocker emerges in the next several days.
You know the drill by now, we suspect:
So bravo to the sellers here. They had something people wanted. (Check out our weekend review.)
They put it out at a very strange time of year with a demand for immediate offers that would have sounded utterly absurd 12 months ago. (A fair paraphrase would be: "We know it's mid-December, but get your offers in…
It looks like we can call 1201 Lynngrove (3br/2ba, 1975 sq. ft.) the last of 2012, unless some true shocker emerges in the next several days.You know the drill by now, we suspect:
- Attractive, turnkey property
- High-demand market segment
- Occupying the field alone
- Priced reasonably
- "Deadlines" announced for bids
- Multiple offers
- Sale over asking price
So bravo to the sellers here. They had something people wanted. (Check out our weekend review.)
They put it out at a very strange time of year with a demand for immediate offers that would have sounded utterly absurd 12 months ago. (A fair paraphrase would be: "We know it's mid-December, but get your offers in…
Same House, Big Price Difference
Wednesday, December 19th, 2012 at 4:43pm. 331 Views, 0 Comments.
We have an interesting pair of sales to look at that might cast an interesting light on the dollar divide between East MB and MB west of Sepulveda.
Take the same house, built in the same year, and put it in 2 different subpar locations, east and west.
What's the price difference?
1209 Oak (5br/5ba, 3125 sq. ft.) sold most recently. It's a 10-year-old Mediterranean, surprisingly warm with nice woods and good touches inside. It's on the "right" side of Oak (not the commercial side), but on a fairly busy stretch near MBB, and with businesses right across the street.
It's got the classic great room layout, with a lot of family space in back, opening to an outdoor room and reasonably sized, hardscaped yard. Lot size: 4480 sq. ft.
They just closed the…
Take the same house, built in the same year, and put it in 2 different subpar locations, east and west.
What's the price difference?
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| 1209 Oak |
It's got the classic great room layout, with a lot of family space in back, opening to an outdoor room and reasonably sized, hardscaped yard. Lot size: 4480 sq. ft.
They just closed the…
Cape Cod Grabbed Off-Market
Tuesday, December 18th, 2012 at 4:54pm. 457 Views, 0 Comments.
There are just 9 listings in the popular Tree Section of Manhattan Beach right now, none of them Cape Cods.
There's been a real shortage of homes in that in-demand style throughout the year; this is not just the end-of-the-year blues. (Here's our post from May 2012 lamenting the lack of Cape Cod inventory.)
So what have buyers done? They've trolled the off-market waters.
Earlier this month, we saw 1417 Elm (5br/5ba, 3000 sq. ft.) sell off-market. And what a price: $2.149m.
This one was offered in Fall 2011 for a few months at $2.099m, down to $2.049m.
Those numbers were, frankly, not suited to the times, particularly with a home on the smaller side (3000 sq. ft.) and offering such a postage stamp of a yard. It quit and rented out, as the…
There's been a real shortage of homes in that in-demand style throughout the year; this is not just the end-of-the-year blues. (Here's our post from May 2012 lamenting the lack of Cape Cod inventory.)
So what have buyers done? They've trolled the off-market waters.
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| 1417 Elm |
This one was offered in Fall 2011 for a few months at $2.099m, down to $2.049m.
Those numbers were, frankly, not suited to the times, particularly with a home on the smaller side (3000 sq. ft.) and offering such a postage stamp of a yard. It quit and rented out, as the…
Day of Silence
Monday, December 17th, 2012 at 5:01pm. 364 Views, 0 Comments.
Please visit this site to donate and help the victims' families.
Weekend Opens (12/15-12/16)
Saturday, December 15th, 2012 at 5:39pm. 339 Views, 0 Comments.
What do you think, 2012, do you have one last bidding war in you?
We've got a notion of where that might come.
There are 3 new listings competing for your attention in East MB this weekend, and another smallish SFR on a half lot in the Sand. Slim pickings if you're looking west of the highway, but what can you expect a week before Santa?
To plan your weekend open-house tours, try this Redfin map list of open houses – sort by price or sub-region of MB by clicking the title on a column.
Or click here for the new-format Beach Reporter list of opens.
If you're thinking about getting into the market as a buyer or seller, please consider asking MB Confidential author Dave Fratello for help. For more, see MBC's Need an Agent?" page.
East MB
1201 Lynngrove (3br/2ba,…
We've got a notion of where that might come.
There are 3 new listings competing for your attention in East MB this weekend, and another smallish SFR on a half lot in the Sand. Slim pickings if you're looking west of the highway, but what can you expect a week before Santa?
To plan your weekend open-house tours, try this Redfin map list of open houses – sort by price or sub-region of MB by clicking the title on a column.
Or click here for the new-format Beach Reporter list of opens.
If you're thinking about getting into the market as a buyer or seller, please consider asking MB Confidential author Dave Fratello for help. For more, see MBC's Need an Agent?" page.
East MB
1201 Lynngrove (3br/2ba,…A Quick MB RE Glossary
Friday, December 14th, 2012 at 4:56pm. 344 Views, 0 Comments.
Looking back over the years, here at MBC we've adopted some terms, and created some others, as shorthand for various aspects of Manhattan Beach real estate.Now and then we get questions: What does this mean, what does that mean?
So here's a guide to some of those terms, and any interesting history behind them.
We encourage readers to add their own to the list via comments, or just email Dave.
The Highway – There can be no doubt: "The Highway" is Sepulveda, Route 1, PCH... all the same thing. It's the border between East and West MB.
For some, the highway is like an impenetrable barrier, as in: "It seems like weeks since I crossed Sepulveda." For others, no big whoop, we're all here together, man.
The border has spawned some divisive phrases: "There's No Life…
Ocean Views, 23% Off
Wednesday, December 12th, 2012 at 5:00pm. 250 Views, 0 Comments.
Sometimes the promise of short sales and REOs as some sort of bargain is dashed in reality.
The market value is what it is, and distress sales – rare as they are in MB these days – just don't seem to deliver huge discounts.
But a new El Porto Norte short sale looks pretty good pricewise, and looks extremely good from inside. Moreover, it's a huge discount to the peak-year acquisition.
That's 316 45th (3br/4ba, 2320 sq. ft.) we're talking about, a 2006-built TH at the north end of town, and almost at the top of the steep hill that rises up to the tank farm a peak in El Segundo territory.
Views? Oh yeah. We said in our review in September:
There are few higher points in MB with more unobstructed panoramas than this TH on the furthest edge of town. The master…
The market value is what it is, and distress sales – rare as they are in MB these days – just don't seem to deliver huge discounts.
But a new El Porto Norte short sale looks pretty good pricewise, and looks extremely good from inside. Moreover, it's a huge discount to the peak-year acquisition.
That's 316 45th (3br/4ba, 2320 sq. ft.) we're talking about, a 2006-built TH at the north end of town, and almost at the top of the steep hill that rises up to the tank farm a peak in El Segundo territory. Views? Oh yeah. We said in our review in September:
There are few higher points in MB with more unobstructed panoramas than this TH on the furthest edge of town. The master…
