<?xml version="1.0" encoding="UTF-8" ?>
<rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom">
    <channel>
        <atom:link href="https://www.mbconfidential.com/blog/2015-05/rss/" rel="self" type="application/rss+xml" />
        <title>MB Confidential</title>
        <link>https://www.mbconfidential.com/blog/2015-05/</link>
        <description>Manhattan Beach Real Estate Blog with Market Data and Expert Analysis, News, Opinion, Listing Reviews and Open Houses. By Dave Fratello, Manhattan Beach Broker with Edge Real Estate Agency.
</description>
<item>
    <guid>https://www.mbconfidential.com/blog/weekend-opens-530-531.html</guid>
    <link>https://www.mbconfidential.com/blog/weekend-opens-530-531.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Weekend Opens (5/30-5/31)</title>
    <description> <![CDATA[ 
Yesterday we had good news as inventory among Manhattan Beach real estate ballooned (ha ha) to 63 homes – and it's up even &quot;higher&quot; now to 64 as of Saturday morning.


Saturday brought good news for all of Manhattan Beach – the beaches are open again after a mysterious &quot;petroleum product&quot; incident earlier in the week. (Source still unknown.) You may resume your regularly scheduled weekend beachgoing activity. (For more see this DigMB post.)


Friday saw your blog author, Dave, uncharacteristically outside the ZIP code, which meant we didn't get in-person previews of this week's new listings. That means we'll go with brief text mainly drawn from the official listing descriptions this week.


To plan your open-house tours for this week, use MB Confidential's online list of Manhattan Beach open houses (it's mobile-friendly).


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

Tree Section


645 29th (5br/5ba, 3350 sqft.) is a 2005-built Mediterranean on one of the great blocks north of Valley in the Tree Section. It's been completely refreshed, head-to-toe, looking almost new. From the official description:


&quot;Exceptional pebble finishes, flagstone driveway and front walkway with a two story mortared stone entry... Rich 5&quot; walnut hardwood flooring is featured through the downstairs living area, stairwell and upper hall. Home includes an incredible 4 fireplaces in and out. Expansive cook's kitchen with 6 burner Viking cook top, griddle, pot filler and side by side oven, 48&quot;side by side paneled Subzero, custom cabinetry, slab stone counters, custom hood and large walk in pantry looking into a charming nook and huge family room off of the backyard.&quot;


&quot;Huge master suite with elegant master bath featuring 2 headed shower, spa tub, with a see through fireplace, beautiful stone floors, slab counters, large walk in closet and French doors leading to deck with views of yard. Backyard features a free standing stone and stucco fireplace on large flag stone patio with an extensive turf yard, high wood fencing, lush mature landscaping.&quot;


645 29th Street starts at $3.125M and is open Sun. 1-4pm.


2516 Pacific (4br/3ba, 3300 sqft.) is a 1990-built Spanish with a reasonably short walk to Pacific School. From the official description:


&quot;Dramatic Living Room with Cathedral Ceiling, Nearly Floor to Ceiling Windows, &amp; Max Windsor Hardwood Flooring. Lovely Family Room with Custom Entertainment Center, Saltillo Tile Flooring, &amp; Built-in Hutch. Completely Remodeled Gorgeous Chef’s Kitchen with Two Black Walnut Plank Style Countertops, Custom East Coast Greenfield Cabinetry, China Cabinet, Copper Sinks, Imported Italian Tiles, Thermador Professional Series 6-Burner Stainless Steel Stove, Wine Refrigerator, Beverage Refrigerator, &amp; Walk-in Pantry.&quot;


&quot;Beautiful Large Master Suite with Hardwood Floors, Coffered Ceiling, &amp; Large Wood Burning Fireplace. Remodeled Master Bathroom has Honed Travertine Floor, Platinum Spa Tub, Custom Stone Shower with Rain Forest Ceiling Fixture &amp; 2 Body Spray Jets, plus 2 Mr. Steam Towel Warmers. Backyard with Hand Painted Imported Italian Fountain, Built-in Gas BBQ &amp; Side Burner with Custom Tile Counter, &amp; Beverage Container, 2 Rock Speakers, and Saltillo Pavers.&quot;


2516 Pacific Avenue starts at $2.599M and is open Sat. and Sun 2-4pm.


Sand Section


133 15th (3br/3ba, 2300 sqft.) appears to be nearly a work of art in a prime downtown location, just off Manhattan Ave. From the official description:


&quot;This extraordinary modern 100 block home employing commercial grade steel frame and steel floor construction, features 3 bedroom, 3 baths... and spares no expenses, from the gleaming radiant heated French limestone flooring to the sustainably harvested and liberal use of Makekae wood flooring and doors, this home exudes quality from every pore.&quot;


&quot;Kitchen features stainless and aluminum Bauthaup cabinet system, Miele dishwasher, convection and steam oven, Gaggenau cooktop, and looks into gorgeous living area with incredible views of ocean, PV and downtown. Master suite with ocean views, features Polyform of Italy closet system, and lime stone floored master bath... Home has too many extras to list including super efficient energy and acoustical windows by Vista-Wall and Pella, power privacy drapes, automatic powered sky light, zinc-alum roof and exterior trim, Artec polished stainless steel railing from Belgium, Lutron lighting, Italian made aluminum and glass exterior doors from the Ghost series by Remadesio.&quot;


133 15th Street starts at $4.100M and is open Sat. and Sun. 2-4pm.


437 27th (4br/4ba, 2250 sqft.) is officially a 1970s-era SFR but with much newer updates. Lot size is a bit bigger than a half lot at 1540 sqft. From the official description:


&quot;South facing 3 story tropical beach styled home located on one of the best streets in the sand section... Top floor has open floor plan w/ new cook's kitchen, (Viking, Bosch, Subzero) granite, cooper sink &amp; custom cabinets plus island. Large dining area and fab living /great-room with marble fireplace, tons of over-sized windows, 2 patios w/ ocean views, built-in BBQ &amp; more.&quot;


&quot;2nd floor has Master w/ walk-in closet, magnificent spa styled master bath w/ tons of light. 2nd and 3rd bedrooms on the same level w/full baths. 1st Floor has over-sized garage and Guest Quarters.&quot;


Worth noting: Another home the next block over at 472 28th (4br/4ba, 2600 sqft. on a 1550 sqft. lot), lacking the updates found at 437 27th, is languishing at $2.800M and 82 DOM.


437 27th Street starts at $2.495M and is open Sat. and Sun 1-4pm.


85 Bayview (3br/4ba, 2100 sqft.) is a stylishly redone TH with good views down in the quiet South End. Per the official description:


&quot;This beautiful contemporary 3 Bedroom, 3.5 Bath sand section townhouse is just two blocks to the beach and a short walk to downtown Manhattan Beach. The top floor features a large open, light and airy floor plan with brand new European white oak floors, a beautiful stone fireplace and a large ocean view deck perfect for watching those fabulous sunsets.&quot;


&quot;The Chef's kitchen has granite counter tops, a 6 burner Wolf range and double oven, Subzero refrigerator, a double wine refrigerator and a large walk-in pantry. The master bedroom has a fireplace and large walk-in closet and the two large bedrooms on the lower floor each have their own baths and open onto a nice private outdoor patio. A 2 car garage with lots of built in storage and an extra guest parking spot complete this lovely home.&quot;


85 Bayview Drive starts at $2.899M and is open Sun. 2-4pm


2821 Alma (3br/2ba, 1500 sqft.) boasts a full-size lot (2700 sqft.) and a real yard, rarities so close to the beach. The style inside, after a remodel, is ultramodern and slick. From the official description:


&quot;[T]his mid-century modern ocean view walkstreet home with a gigantic yard is the one you've been waiting for... [F]lexible floor plan with 3 beds &amp; 2 baths along with an abundance of outdoor entertaining space and ocean views everywhere you turn.&quot;


&quot;Extensively remodeled with high end finishes throughout such as mahogany parquet hardwood floors, Ann Sacks tile, tight weave herringbone carpet and a deluxe whole house water filtration system. The gourmet kitchen has a cool beach vibe with stainless steel appliances including a Thermador professional series gas range with custom hood and a breakfast bar with a solid surface countertop. The open and airy living room features an ocean view wall of windows with custom window coverings, maple built-in bookshelves and a gas fireplace. Rounding out the features of this ultra hip beach home is a two-car garage and several additional off-street parking spaces as well as an oversized private yard with eco-friendly landscaping such as bamboo and a succulent garden.&quot;


2821 Alma Avenue starts at $2.995M and is open Sat. and Sun. 2-4pm


East MB


1653 Gates (5br/5ba, 4300 sqft.) is a 2001 Mediterranean reasonably close to the elementary and high schools without being, you know, too close. From the description:


&quot;Features include a formal living area w/travertine fplc &amp; 2 story vaulted ceiling, formal dining room, spacious family room... &amp; gourmet chef's kitchen w/granite countertops, stainless steel appliances, walk-in pantry, large center island cooktop, &amp; adjacent breakfast nook.&quot;


&quot;Grand master suite has its own private balcony, vaulted ceilings, travertine fplc, &amp; elegant master bathroom w/dual sinks, granite countertops, spa tub for two, &amp; separate glass enclosed shower. One main floor en suite guest bedroom w/remaining 4 bedrooms &amp; laundry room at the second floor level. Additional upstairs bonus playroom/media room w/private balcony.&quot;


&quot;Spectacular resort style backyard has a beautiful pool w/waterfalls &amp; automated walk on pool cover, separate spa w/waterfall, fire pit area w/built-in seating, sport court for the basketball aficionado, &amp; built-in BBQ for the gourmet cook.&quot;


1653 Gates starts at $2.649M and is open Sat. and Sun. 1-4pm.


1325 17th (5br/4ba, 3100 sqft.) is the front TH of a 2-unit complex near Meadows Elementary. From the official description:


&quot;Maybe the lowest price per square foot in Manhattan Beach, Huge Home for the Price. 5 bedrooms, 3.5 bathrooms, Open Floor plan, 2 car direct access garage, detached town home with no HOA, gated private yard. 3088 sq. ft of living space on 3 levels, featuring 2 separate living areas, outdoor view decks, dining area, open kitchen. Walk to MB Award winning schools, park, dining and shopping. Great opportunity for entry level buyer into Manhattan Heights.&quot;


1325 17th starts at $1.595M and is open Sat. &amp; Sun. 1-4pm.
 ]]> </description>
    <pubDate>Sat, 30 May 2015 10:32:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/temporary-high-in-inventory-for-2015.html</guid>
    <link>https://www.mbconfidential.com/blog/temporary-high-in-inventory-for-2015.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>(Temporary) High in Inventory for 2015</title>
    <description> <![CDATA[ 
With a little rush of post-Memorial-Day listings, Manhattan Beach is seeing its highest inventory level so far to date in 2015.


As we write on Friday morning, there are a whopping 63 active listings of homes for sale (including SFRs and THs).


OK, so it's no flood, but it's a new range of choices. East and West, beach and 'burbs. It might not last, but it's good to see the year hit a new peak.


We took particular note of a few:


645 29th (5br/5ba, 3350 sqft.) is a fully refreshed Mediterranean on an inarguably great street.


Disclosure: Dave is friendly with the sellers and had a brief consultation with them prior to the listing.


Start price: $3.125M.


1750 5th (5br/5ba, 4000 sqft.) is a 2001 Mediterranean that's solid and boasts one of those mandatory full-size (7500 sqft.) lots. Includes a pool.


It's a classic East MB suburban home with a decidedly 2015 start price: $2.650M.


750 35th (5br/5ba, 3700 sqft.) is a brand-new Cape Cod that has now also added to inventory by dropping out of escrow and coming back to market. List is still $3.225M.


As the rush of listings keeps coming, we're going to drop into this post a list of all current, active inventory. This set of listings will only display on the site, so email subscribers will need to click the link at the top to &quot;View this email in your browser&quot; to see the listings.


 
 ]]> </description>
    <pubDate>Fri, 29 May 2015 11:01:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/how-bout-2200psf.html</guid>
    <link>https://www.mbconfidential.com/blog/how-bout-2200psf.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>How 'Bout $2,200/PSF?</title>
    <description> <![CDATA[ 
Back in February, with the ambitious launch of 3300 Ocean Drive at $4.350M, we offered two quick points:


(1) [I]t would really be something to see a nearly $2,200/PSF sale come to fruition; and


(2) Tip: Don't bet against it.


It turns out, to get a deal done on this impressively remodeled and even-more-impressively located TH, they had to chop $350K off the top.


But there can't have been any tears over that chop.


A sale price of $4.000M on a 3bd/2ba, 1850 sqft. townhome boils down to $2,162/PSF, which is up there in the stratosphere.


The highest PPSF we've seen recently on a non-Strand home – exempting lot sales, with their crazy PPSFs on tiny, old 'dozer-bait houses – was also on Ocean Ave., specifically 1904 Ocean Ave.


That's a 2br/2ba, 1800 sqft. modern SFR sporting a 2011 build date. Many things different there than on a redone TH further north.


With a sale price of $3.250M (off-market), the PPSF came in at $1,806/PSF, or 16 lower.


As a general comparison, for Manhattan Beach Sand Section townhomes and SFRs just a little further from The Strand, you'd commonly see PPSFs in the range of $1,100-$1,300/PSF, with some just above or below that.


We took a look back at the very impressive recent sale of the remodeled townhome at 2305 Bayview (3br/4ba, 2570 sqft.), which sold for $3.399M in Jan. 2015.


The PPSF there? A meager $1,323/PSF. (For more on the $1M markup there over 30 months, see &quot;Make $1,000/Day At Home.&quot;)


3300 Ocean is a 1992 original TH, but with a recent (2011) total redesign that gave it very much a modern flavor, and amped up the property's considerable views with nearly floor-to-ceiling windows and accordion doors opening to the deck.


Views were all the more impressive, given that Strand homes in front of this property for almost as far as you can see in either direction are 2-story homes, giving you a complete blue panorama. (The lots slope down toward the beach, so a 3rd floor is typically available at the front of those Strand homes, but the height in back is what you'd care about at 3300 Ocean.)


Without straining too much, you can see the MB pier (yes, from 33rd St.) and even a glimpse of the Hermosa pier.


Nearly $2,200/PSF again raises the bar here in 2015, with 7 full months to go in the year for a challenger to emerge.


--------------------------------


UPDATE: For about the same money, you can get a lot. That is, a plot of land. They've just closed the sale at the &quot;prime&quot; Sand Section lot we discussed last week: 217 27th closed for $4.100M. (See: &quot;Prime Sand Section Lot Sells&quot; from last Tuesday.)


That's no runaway from the $3.995M start price, but it's a quick, cash close on dirt – just a starting point.
 ]]> </description>
    <pubDate>Wed, 27 May 2015 16:58:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/tree-section-flipper-re-do-scores-24m.html</guid>
    <link>https://www.mbconfidential.com/blog/tree-section-flipper-re-do-scores-24m.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Tree Section Flipper Re-Do Scores $2.4M+</title>
    <description> <![CDATA[ 
One of the symptoms (for better or worse) of a real estate upcycle is that flippers come to town and find it profitable to make over homes for resale.


It may be just an impression, but this time around, it seems like the caliber of work is a cut above the kinds of quickie rehabs we saw in the early part of this century, as the last cycle was heating up (2002-2005 especially).


Hypothesis: There are now fewer &quot;get rich quick&quot; cable TV shows about home flipping.


Corollary/Related: There are now fewer people watching cable.


Whatever the full set of reasons, the Manhattan Beach real estate market seems to have attracted better work.


One that stood out for us was the Tree Section remodel at 3613 Walnut (4br/5ba, 3545 sq. ft.), where a sale has now closed at $2.429M.


We gave this one credit simply because they did such a good job of taking a &quot;forlorn, dreary 80s house&quot; (as MBC said recently) and giving it a very nice, updated, Cape Cod type style. 


The house really needed everything, top-to-bottom, and got about 95 of what it needed. (Some of the windows that should have been replaced were not.) They even added A/C. (We featured the transformation in &quot;Before and After at 3613 Walnut.&quot; See the photos there.)


Being so proud of their work, the flippers chose to shoot the moon on price, but they must have known their start $2.699M was way out of line.


That cost the flippers time on market. The listing officially tallied 157 DOM.


Once a series of price chops had brought the ask down to $2.449M, we said here it was &quot;beginning to look like a deal (it's all relative), even with the home's close proximity to Rosecrans and the refinery.&quot;


Multiple offers followed, and the closed price was right near that last ask at $2.429M. (Disclosure: Dave prepared an offer for a client.)


That's a healthy markup of $802K over the April 2014 acquisition price of $1.625M.


Deduct the costs of the rehab &amp; carry, plus costs of sale, from the $800K to find the profit... whatever it was, exactly, we're guessing that &quot;considerable&quot; captures the flavor of it.


-------------------


Bonus Background Reading: MB Confidential took note of the sudden return of flippers as the market recovered in a November 2012 post, &quot;The 'F' Word: Flippers.&quot; We opined then, &quot;perhaps the return of the flipper is nigh.&quot;


An update in August 2013, &quot;Flips Are Really Back,&quot; verified the trend.
 ]]> </description>
    <pubDate>Tue, 26 May 2015 14:41:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/sunday-opens-52415.html</guid>
    <link>https://www.mbconfidential.com/blog/sunday-opens-52415.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Sunday Opens (5/24/15)</title>
    <description> <![CDATA[ 
If Memorial Day is the unofficial start to Summer, one thing Manhattan Beach locals may be wondering is: Are we in for a chilly, cloudy Summer like the one we saw 5 years ago?


We haven't really had many hot and sunny days here since roughly March, and this holiday weekend may not see temps break 70 degrees.


The Summer of 2010 saw more foggy, cool days than sunny ones, it seemed. A stubborn marine layer hung low over the South Bay on days that nature intended for rollicking around outside on the sand. You could still play at the beach – you just needed a sweatshirt.


Some called it the &quot;Bummer Summer.&quot; Others were happy about the free air conditioning while inland areas baked.


Well, this is no climate blog. Please take the time this weekend to salute the veterans who gave all they could to give us what we all have now.


To plan your open-house tours for this week, use MB Confidential's online list of Manhattan Beach open houses (it's mobile-friendly).


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

Tree Section


3102 Blanche (5br/4ba, 3400 sqft.) is a 2001-built Mediterranean at the gateway to one of the Tree Section's great streets, 31st, but also running along busy Blanche. 


The first floor is built around a modest courtyard at the center, with the kitchen/family room to the south side opening to a little patio with some grass and tree cover.


There's also a high-ceiling living room on that first level and the 5th bedroom, which currently is outfitted as an office with built-ins.


Upstairs, there is the expected pair of bedrooms sharing a jack-and-jill bath, plus one separate suite and the master suite.


To us, none of the bedrooms felt especially large, though the master is spacious enough to have a separate seating area. We noted that the listing states that the home is 3400 sqft., but it felt like less. Turns out, the listing notes the 3400 sqft. figure as &quot;taped&quot; (perhaps in financing or a refi), while the tax records show 3100 sqft. and the original listing in 2002 stated 3000 sqft. Buyer, please verify.


3102 Blanche starts at $2.750M and is open Sun. 1-4pm.


Hill Section


512 Poinsettia (4br/2ba, 2500 sqft.) is, apparently, what you can get in the Hill Section for the mid-2's nowadays.


The 1970s original on a small lot (3250 sqft.) show as rental-caliber today, wanting updates just about everyplace. The listing is frank about that, urging buyers to &quot;bring your hammer and your dreams&quot; to make the home into something more.


There are some views featured in the listing, but that includes a teeny smidgen of blue to the south and some amount of blue due west, which we can't quite assess because the photo looks to have been cropped to over-emphasize the actual view. This one needs a look.


This property has had ongoing NOD issues on-and-off for about 5 years and is being marketed by a foreclosure-specialist firm.


512 Poinsettia starts at $2.390M and is open Sun. 1-4pm.


Sand Section


422 Marine Ave. (3br/3ba, 1375 sqft.) has something of a misleading address, as we noted last week, because it's actually in back on Marine Place.


The smallish TH back unit has nothing but garage on the lowest level, three small and mostly original-feeling (1970s) bedrooms on the middle level, and a top floor that got a bold re-do in the 80s at some point.


There are some views now toward the north over under-height, older homes, but those would be temporary.


It's got to be viewed as a fixer with walkability to beach &amp; school being its primary pluses.


And price. You can hardly find anything west of Sepulveda for under $2M, certainly in the Sand Section.


422 Marine starts at $1.600M and is open Sun. 2-5pm.


464 35th (3bd/3ba, 3,100 sq. ft.) sports an 80s build date and a lot of carpet for the downstairs bedrooms (2), living room and bathroom.


Upstairs, there are wood floors and very wide-open spaces. The master is just off the kitchen. A staircase leads up to a smallish rooftop deck with views over the refinery toward the Hollywood sign. 


Everything's very clean and quite bright, but very much of the period when it was built, more than 25 years ago. So it could stand a refresher. We'll see what someone decides to do.


464 35th is almost at 3 months on market and at $2.399M. It is open Sun. 2-4pm.
 ]]> </description>
    <pubDate>Sun, 24 May 2015 08:49:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/nothing-under-15m.html</guid>
    <link>https://www.mbconfidential.com/blog/nothing-under-15m.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Nothing Under $1.5M?</title>
    <description> <![CDATA[ 
Recently we got a somewhat desperate message from a buyer: Is there any chance we can get into Manhattan Beach west of Sepulveda under $1.5M?


This came near the culmination of a long and fruitless search for properties in that price range.


The reluctant reply: No, not really. You'll have to compromise on location or price.


As is so often the case in this market, those buyers wound up compromising on both.


But (the good news) they did make a deal west of the highway.


As we write today, there are only 2 SFRs west of Sepulveda active under $1.5M:


3601 N. Poinsettia (3br/1ba, 1070 sqft.), a small and largely original cottage with a few obvious liabilities, not least the shared driveway.


The location is way over by Rosecrans in the Tree Section.


Asking price: $1.375M.


2701 Oak (2br/1ba, 900 sqft.) is a 4480 sqft. corner lot that's up for overbidding now after an initial auction had set the lot value at $1.340M.


The first overbid in a court hearing this Summer must be at least $1.407M. There are already new Oak Ave. comps to support that price.


Those are your options today under $1.5M.


All year here in 2015, there have been just 11 sales of SFRs west of Sepulveda below $1.5M. Here they are:




3 were on Oak Ave. (2001 Oak at $1.410M, 2209 Oak at $1.410M also (pictured) and 1405 Oak at $1.300M);






3 were on Rosecrans (464 Rosecrans at $1.205M, 768 Rosecrans at $1.100M and 742 Rosecrans at $1.150M);






2 were on half lots on North End alley streets (440 35th Place at $1.050M and 462 36th Place at $1.255M);






1 was a small, updated house on a half-lot on on alley in the Sand Section (532 5th Place at $1.349M) (pictured).






1 was a small, original house on a tiny lot on Valley in the Tree Section (2801 Valley at $985K); and






1 was a duplex on a half lot in El Porto, near Highland (217 Kelp at $1.430M).




In each case, you could say the buyers compromised, at the very least, on location – but at least they did get in west of the highway.


In 2014, a total of 36 SFRs west of Sepulveda in Manhattan Beach traded for $1.5M or less.


Near mid-year, here, it looks like 2015 won't come near that total.
 ]]> </description>
    <pubDate>Wed, 20 May 2015 15:33:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/prime-sand-section-lot-sells.html</guid>
    <link>https://www.mbconfidential.com/blog/prime-sand-section-lot-sells.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Prime Sand Section Lot Sells</title>
    <description> <![CDATA[ 
When all is said and done at 217 27th, and we mean way down the road, you can expect to see a new landmark for midtown Manhattan Beach.


Looming over Bruce's Beach park, the current, obsolete structure gets pretty terrific views.


The next structure is sure to be designed to rock it.


We realize that this little 400-pixel image of the views (or a smaller image, on your phone) isn't able to convey much. But trust us.


If you know Manhattan Beach, if you know ocean views, if you know Bruce's Beach Park and its expansive, wide-open ocean views, and if you know the value of all these things combined, it's rather easy to see why elite money – big dollars – would chase this particular plot.


The potential for a new home with unobstructable views is unlimited.


The steep elevation of 27th Street coming up off the county lifeguard station is notable, and gives all homes along the upslope nice views even if they do have neighbors.


Here, with an alley on one side and a park on the other, there are no neighbors. (And no, they won't be selling off Bruce's Beach Park any time soon to build affordable housing units.)


The start price on this super-prime lot – which happens not to be a full-size Sand Section lot (2400 sqft. instead of 2700 sqft.) – was $3.995M.


But $4M was merely a suggestion. This is one of those must-have properties that people hope to see for years.


The sky's a big part of the view. And the sky's the limit on where the sale could end up.
 ]]> </description>
    <pubDate>Tue, 19 May 2015 07:54:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/sunday-opens-51715.html</guid>
    <link>https://www.mbconfidential.com/blog/sunday-opens-51715.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Sunday Opens (5/17/15)</title>
    <description> <![CDATA[ 
This weekend is not just a great time to pick from among the growing range of options for open houses... which is free... but also to check out the annual Sophisticated Snoop tour, giving you the chance to see some of the most artful homes in Manhattan Beach and Hermosa in full-dress glory.


That includes this Hermosa Strand modern, plus an MB Strand home and others in the Sand &amp; Tree sections of Manhattan Beach.


See this DigMB post for more, including links to each property, and pick up tickets at the door of any property – or see here for more on the Snoop.


To plan your open-house tours for this week, use MB Confidential's online list of Manhattan Beach open houses (it's mobile-friendly).


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

Tree Section


644 Marine (3br/2ba, 1670 sqft.) is a quaint, very nicely updated home with a &quot;Sand Section&quot; feel on a Tree Section lot that's a close walk to school and town.


From the official description:


&quot;Designer Ready Home with amazing finishes and use of space This home is nestled on one of the most well known streets in the prestigious Gas Lamp Area... Open floor plan, high ceiling with lots of windows providing tons of natural light. Private front and side court yard with build in spa and BBQ area. This beautiful home has hardwood floors throughout with gourmet kitchen and dining room with multiple family and entertaining spaces. French doors leading from the living room to the courtyard create an indoor / outdoor living space. Large Master Bedroom with walk-in closet and large suite area.&quot;


Disclosure: Dave has toured clients through the home.


644 Marine starts at $2.349M and is open Sun. 1-4pm.


608 27th (5br/4ba, 4200 sqft.) is a pre-ZORP Spanish with a pool in back that, for whatever reason, is being marketed as &quot;bright and white beach chic.&quot;


There's one bedroom downstairs among the common spaces, which are tiered toward the back as the lot slopes down. A modern kitchen is at the center of it all.


Upstairs are 3 full-size bedrooms (including the master) and a nursery or office-sized bedroom.


Vaulted ceilings in the main living areas and master bedroom make for a bold statement, and the home gets lots of light. 


Location is awfully nice as well for this home said to be &quot;like no other&quot; in the official description.


608 27th starts at $3.295M and is open Sun. 2-5pm.


665 33rd (3br/3ba, 2200 sqft.) was a 50s cottage that got some additions and remodeling around 10 years ago. It's been run down since then, as a prior owner let it go back to the bank and tenants left something of a mess and partly stripped house behind.


So it's a very rare REO for Manhattan Beach, worse for wear but only really needing cosmetic fixes in most places.


We saw a 4th bedroom over the garage (not noted in the listing), up some spiral stairs, with a large bath with shower. What we saw on the walls of that upstairs bath gave us pause – there will need to be some cleanup there.


For this Tree Section location, it's no surprise that there are already offers in on this property, but the bank would surely love to see more.


Disclosure: Dave has toured the property with clients.


665 33rd starts at $1.950M and is open Sun. 1-3pm.


East MB


1659 3rd (4br/4ba, 2865 sqft.) is a recently redone version of a home we saw just 3 years back looking like... well, like a home that needed a re-do.


In the official description, they call this now a &quot;[b]eautiful coastal-inspired remodeled home,&quot; taking note of the full-size (7500 sqft.) corner lot.


Of the 4br, there are 3 on the main level, with the master up over the garage. Per the description:


&quot;The home features upgrades such as custom European white oak hardwood floors throughout, new exterior and interior paint, beautiful custom marble fireplace, new interior doors, plantation shutters, custom light fixtures, and much more. The sizable master suite is upstairs with an enclosed patio providing an abundance of natural light and city views. There is a ton of storage space in this house, which boasts both attached and detached one and a half car garages.&quot;


1659 3rd starts at $1.879M and is open Sun. 1-4pm.


901 Peck (4br/3ba, 2840 sqft.) is of comparable size and location, overall, to 1659 3rd, and also sports a 7500 sqft. corner lot.


In this case, most of the updates are to be made in the future. And one of those 4br is more of a fully separate office/guest suite, accessed down on the first level off of the side patio.


901 Peck starts at $2.000M and is open Sun. 1-4pm.


Sand Section


422 Marine Ave. (3br/3ba, 1375 sqft.) has something of a misleading address, because it's actually in back on Marine Place.


The smallish TH back unit has nothing but garage on the lowest level, three small and mostly original-feeling (1970s) bedrooms on the middle level, and a top floor that got a bold re-do in the 80s at some point.


There are some views now toward the north over under-height, older homes, but those would be temporary.


It's got to be viewed as a fixer with walkability to beach &amp; school being its primary pluses.


And price. You can hardly find anything west of Sepulveda for under $2M, certainly in the Sand Section.


422 Marine starts at $1.600M and is open Sun. 2-5pm.
 ]]> </description>
    <pubDate>Sat, 16 May 2015 17:20:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/manhattan-beach-market-update-51515.html</guid>
    <link>https://www.mbconfidential.com/blog/manhattan-beach-market-update-51515.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Manhattan Beach Market Update: 5/15/15</title>
    <description> <![CDATA[ 
Even just the last week has seemed busy in the Manhattan Beach real estate market. You want options? They've been coming: 15 new listings in 7 days.


The problem (stop us if this sounds familiar)... There were 14 new deals made in the same span. So the 7-day net increase in inventory was +1.


We're going to focus on just a few new construction projects that have found buyers most recently:


2412 John (3br/3ba, 1890 sqft.) is unconventional for new construction and has been polarizing, in a way, among market watchers. Why build under-sized on a prime street? Why go mid-century? Are buyers really looking for green &amp; modern?


For an uncomfortably long time – OK, just 90 days – the doubters were winning the day. 2412 John was too ambitiously priced at $2.799M and wasn't drawing much interest.


After a chop to $2.599M last month, however, it was becoming more realistic and the phone began to ring. Now they've got a buyer. (For MBC's appreciation of the inspired marketing of the home, see: &quot;The Importance of Staging... The Driveway,&quot; from February.)


216 13th (5br/5ba, 4300 sqft.) sits at the base of the 13th St. walkstreet at Bayview right near downtown.


It's modern style new construction that visitors to Uncle Bill's (and the Ocean View Café) have admired for the better part of 2 years.


There was interest of all kinds. That includes interest of the serious buyer kind.


Closed sale this week: $7.000M.


If we look only to similar, recent sales of modern new construction in the immediate area, one comp is 128 14th (4br/5ba, 4000 sqft.) at &quot;just&quot; $5.500M. It didn't have the views afforded to 216 13th by way of having no neighbor to the west, but it did have that &quot;Radical Garage&quot; going for it.


Finally, 317 27th (4br/5ba, 3450 sqft.) occupies a special place just up the radically upsloping hill from Highland, giving it outstanding views from the top floor, even over an older, 3-story neighbor.


They presold this new home and therefore didn't need to go out and get professional photography.


Instead, we have this phone-camera hint of the 180-degree-plus views of the whole Santa Monica Bay, PV to Malibu.


The sticker price on this home while in escrow: $4.879M.


Here's the balance of our market update report from the period ending 5/15/15:




57 active listings as of 5/15/15 (+1 from 5/1)


49 SFRs (flat)


8 THs (+1)




See the inventory list as of 5/15/15 here, or see the MB Dashboard for up-to-the-minute data.


Active listings by region of Manhattan Beach in this report:




Tree Section: 12 actives (-3)


Sand Section: 20 actives (+3)


Hill Section: 9 actives (+4)


East MB: 16 actives (-3)




We're also providing a report on closed sales by region of MB.


Sales are organized by sub-region of Manhattan Beach.


Here's a link to the spreadsheet: &quot;MB Pending/Sold as of 5/15/15.&quot;
 ]]> </description>
    <pubDate>Sat, 16 May 2015 08:09:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/the-moral-try-try-again.html</guid>
    <link>https://www.mbconfidential.com/blog/the-moral-try-try-again.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>The Moral: Try, Try Again</title>
    <description> <![CDATA[ 
You know the old motto: When at first you don't succeed, try, try again.


That certainly can work for selling.


And if you're not impatient, these days, merely waiting seems to be a formula not just for success – but for netting a greater profit.


Our case study here is 1335 19th (6br/6ba, 5000 sqft.).


The home's been on and off the MLS so many times in the past few years, you could hardly remember when it was a &quot;new&quot; listing, or off-market as a &quot;pocket,&quot; or on-market, or in escrow, or whatever.


But now they've closed up a sale there, at the princely sum of $3.050M.


The on-again, off-again story that preceded the sale went like this:




July-Aug. 2013: asking $2.799M, 34 DOM, quit






June 2014: asking $3.099M, 14 DOM, quit






Sept.-Nov. 2014: asking $2.949M, 27 DOM, got an offer, lost it, quit






March 2015: asking $3.099M, got an offer, lost it, went back to market, got another offer... and closed it




You can see why they say real estate isn't for the faint of heart.


You're on, you're off.


You're in, you're out.


You've got an offer, you don't.


Nothing's done until it closes.


In this case, for all the possible stress and ambiguity, there was a plus. They got $250K (9) more than the first asking price from 2013.


Which is a decent payout for any pain and suffering from the time in between.
 ]]> </description>
    <pubDate>Tue, 12 May 2015 16:27:00 -0700</pubDate>
</item>
    </channel>
</rss>