There are currently 17 blog entries related to this category.
Tuesday, October 8th, 2013 at 5:21pm. 446 Views, 0 Comments.
It's no big surprise to see investors flocking to Manhattan Beach real estate. But still, the numbers involved in some rentals might surprise you.
We first looked at this sort of issue back in February. In "Buy It, Rent It," we gave a few examples of "investors parking cash, taking out low-rate loans and putting pricey properties out for lease."
Each property we mentioned in that story was sold around $1.9M-$2.0M. Rents being sought ranged from $6,500/mo. to $9,000/mo.
Several recent sales have come right back out as rentals, though not all are examples of investors looking long term. We'll examine a selection below. (In each case, the property address links to the sold property, and we provide a link to the rental, also.)
448 1st St. (4br/4ba, 2825…
Friday, April 12th, 2013 at 11:25am. 501 Views, 0 Comments.
You see examples all around this year of homes with a recent history of not selling, which are able to sell here in 2013.
Add 2603 Pacific to the list.
This little remodeled cottage (3br/2ba, 1450 sq. ft.) on a busy street faltered in a 5-month run on the market in 2011.
It's got its charms, to be sure. Behind that ho-hum, 50s/60s cottage exterior there is a surprising and bold remodel, featuring fully updated kitchen and baths and open ceilings.
They launched at $1.199M two solid years ago, in March 2011. The listing hung around, cut twice to as low as $1.099M, and quit in August.
It didn't help that a comparable house – less attractive or remodeled – right across the street was being offered at the time for at least $200K less. That neighbor, 2602…
Friday, February 8th, 2013 at 2:46pm. 690 Views, 0 Comments.
Tight inventory will do that. It's as if you can't fail to sell these days. Even properties that are not on the market.
Two odd houses that have sold recently come to mind.
505 7th (3br/4ba, 2750 sq. ft.) has sold off market.
This is a home that ran 5 months on market in 2011 without success.
Here at MBC, in July 2011, we called it "a curiosity in terms of design and layout," noting "echoes of the home's 70s vintage supplemented by newer updates."
This was a fairly gentle way of saying the home was peculiar and needed work. We toured it with clients who'd have loved to be down on the flat walkstreets, but people just…
Tuesday, December 18th, 2012 at 4:54pm. 790 Views, 0 Comments.
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.
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 owners moved…
Tuesday, November 6th, 2012 at 5:05am. 511 Views, 0 Comments.
Recently Dave was able to help buyer clients looking for a home on MB's famed flat family walkstreets, in an off-market transaction..
Going back several months, when the clients first fell in love with the walkstreets, we said something like, "Great, let's get you a rental down there, and then please be patient. This will take a while."
So it was a pleasant surprise to hear directly from a potential seller of a walkstreet home that nicely suited these clients. We connected buyers and sellers, and the parties reached agreement – quietly, confidentially. The buyers' total wait for a walkstreet home was measured in months, not years.
Friday, June 8th, 2012 at 2:04pm. 394 Views, 0 Comments.
Today's subject is 700 35th (5br/4ba, 3675 sq. ft.), which just sold off-market for $2.190m.
We've raved about this house in the past, even while questioning its public list price. (See "Pricing Poll: 700 35th." Remember, it was late 2008; a lot of people were getting it wrong.)
Besides being a very nice execution of a Cape Cod-ish home (2003 build), it's got a 5400 sq. ft. corner lot along Flournoy, meaning a substantially bigger (south facing) back yard than you'd often find in the Trees, with no neighbor to the west to block your afternoon sun. A part of that 2008 rave:
One of our favorite aspects of 700 35th is the very sense of trees from each room.…
Wednesday, June 6th, 2012 at 6:35pm. 627 Views, 0 Comments.
We got some nice tips, not all of which suited then-current clients. Some of those properties we heard about early then later came to market and sold.
And some of Dave's clients have closed on properties since that post in March.
Now we have a different mix. A few more clients looking with different parameters, some updates to what our ongoing clients are looking for... So we'll update our request: Have you got something to sell that our buyers might want?
• Family home, Trees or…
Friday, May 4th, 2012 at 2:25pm. 409 Views, 0 Comments.
A property offered in the fairly recent past, unable to find a buyer, now does.
88 Manhattan Ave. (3br/4ba, 2150 sq. ft.) is an updated, 1996 TH with generous ocean views right down a wide street to the west. (See our review from Oct. 2011.)
This one was purchased in 2007 for $2.2m and became a classy rental.
Then, a few times, it was offered back to the market:
- For about 2 months in 2009, as low at $1.899m;
- Twice in 2010, for as low as $1.799m; and
- For 2 months in late 2011, for as low as $1.849m.
But look again. This one just sold off-market and posted at $1.925m.
That's $76k above the last public offering price. (Pssst! Hey buyer,…
Thursday, April 19th, 2012 at 4:26am. 651 Views, 0 Comments.
Updated to 2012... since it has just re-sold.
This is a newer home that first hit the market in June 2008 (uh-oh!) seeking $3m.
Oh, those spec builders were pushing and pushing. And some were late to the game.
In November 2008, with the price down a trickle off $3m, MBC described it as:
truly not our kind of newbie, but it is vast... and it has its style points. What we find garish about the stonework, others will find opulent.
|Kitchen at 660 33rd|
The foreclosure was in Oct. 2009, which many would mark literally as the bottom of…
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?
• MB Trees: 4-5br, ~3000 sq. ft., good…