If you're looking for a home or a lot in East Manhattan Beach, that's probably because you want one of those larger 7500 sq. ft. lots that are relatively standard east of Sepulveda. 

With one of those big 50 x 150 lots, you can build well over 4000 square feet of house without digging a basement, and still end up with a sizable yard.

The question is, what's that big lot going to cost you?

Like everything, East MB lots are now getting much more expensive.

There are 2 next-door neighbors really far east that have both just sold and seemed to raise the bar for land values.

1721 Gates (pictured) sold in March right at the asking price of $1.400M. Though it's east of Redondo Ave. and just about a dozen homes up off of Aviation, the lot is almost perfectly flat, which makes home design easier.

And it's just a 2-block walk to the west to get to the local elementary and the high school. But still, pretty far east.

Now, the next-door neighbor at 1727 Gates has sold, for $1.453M.

1727 has a 3br/3ba, 1500 sq. ft. house on it that's livable, but wants updates.

Regardless of the buyer's plans, the vast majority of that value was in the land, owing to the neighbor's recent sale.

So if these less-prime, full-size lots went in the $1.4s, what is the land worth on a quiet street, further west, say, nearer to the elementary?

And by the way, if we get spec homes on these lots, how deep into the 3's are they going to have to sell to be profitable?

We'll come back to these questions as the market gives us answers.

You wanted new listings... We're up to a whopping (!) total of 64 now, with a full 17 new listings in the past week.

Let's get straight to the reviews...

To plan your open-house tours for this week, try this Redfin map list of open houses, or click here for the Beach Reporter list of opens

Don't forget, when previewing homes here on MB Confidential, you can click "Open All Images" right above the main listing photo to get immediate display of all the listing photos at once.

Tree Section

621 13th (4br/5ba, 5650 sq. ft.) is a marvelous custom ocean-view modern home on 2 lots right at the peak of 13th St.

The views are very substantial and protected from the 2nd and top floors.

There is a substantial custom-ness to the layout, however, which may pose…

We half-joked yesterday that when a home sits for 30 days in this market, it almost seems like a "crisis."

Where's my bidding war? Where are the all-cash offers?

Well here's a case of a home that took 5 full years to sell.

906 9th (6br/7ba, 5425 sq. ft.) is a Hill Section spec home that first came out in April 2010 asking $4.695M.

Along the way, asking prices dipped as low as $3.895M.

It's been rented out for much of its time since completion.

Around this time last year, 906 9th came to market asking $4.895M. It hung around for 9 months.

Finally, this week, it sold. The new closed price: $4.300M, somewhere in between the up-and-down asking prices of the last few years.

But now, through some combination of persistence, timing and luck, it's done.

In these go-go times in the Manhattan Beach real estate market, it's no big surprise to see sellers overreach.

After all, it sometimes seems that list prices are merely the starting point for the inevitable bidding war. (See our post, "Always Over Asking?")

But there are also cases like at 1622 Gates (5bd/7ba, 5,500 sq. ft.), where sellers quickly realize that there isn't a buyer at the initial price, and make adjustments.

Gates stands out as a particularly nice, custom house. And it once did sell for $3.100M (in 2007).

This year's list price was $3.175M, but they swiftly changed that to $2.999M just 2 weeks into the listing (-$176K/-5%).

So if they began a bit ahead of the market, they saw it and made the needed changes before the listing got "old."…