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        <title>MB Confidential</title>
        <link>https://www.mbconfidential.com/blog/2023-10/</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/preserving-old-houses-one-deal-at-a-time.html</guid>
    <link>https://www.mbconfidential.com/blog/preserving-old-houses-one-deal-at-a-time.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Preserving Old Houses, One Deal at a Time</title>
    <description> <![CDATA[ 
We know what you think when you see a 60-to-70-year-old house in Manhattan Beach:


- teardown


- scraper


- bulldozer bait


Home values are so high here, it often makes the most sense for a buyer to use the land, not the house.


And that's also true all around SoCal.


But it's not always the case that an old, old house has to get knocked down.


Twice this year, our office has actually helped save 100-year-old houses when selling them.


The latest closed today, in Hollywood ():





That's 858 North June Street, a 1923-built single-story Spanish-style duplex on a corner lot.


Sure, it's outside of Manhattan Beach (by a lot), but we had the listing thanks to a loyal client who inherited it and decided to sell.


The property was in rough condition. The foundation was not properly upgraded, and the house had shifted over the years due to seismic activity (presumably) and just the weight of being there for so long (logically). One unit really hadn't been improved since the owners moved in, back in 1948, and in fact it had been &quot;let go&quot; for a while.


Still, builders were tiptoeing around the property for their own reasons (see our soapbox rant below), and we ultimately wound up with buyers who are perfectly happy to restore and upgrade the little duplex and keep it, at least for the foreseeable future. It's more for family to be close right now. Development can wait.


Meanwhile, earlier this year, our Edge office also sold a little cottage that everyone thought was going for land value.





That was 533 13th (2br/2ba, 1194 sqft.), which had reached 104 years old before we got it onto the market early this year. (Yes we did just reference this one last week)


Although it's one of the last 1-story homes in an area where pricey 3-story new homes are going up all over, the buyers loved the little cottage and remade it for family members to live nearby.


We were really pleasantly surprised on both of these sales. As much as you have to love big, newer houses, it's fun and kind of heartwarming to also see the classics stick around sometimes.


There's no guarantee that either home will make it to 200 years old, but we'll just call this our little contribution to preservation for now.


Oh did we say we had a little rant coming?


Here goes.


We believe SoCal needs more housing. All of California needs more housing. People need to get building. Cities need to allow it.


Some of it probably needs to include more formally &quot;affordable&quot; housing. It's a public policy matter that deserves more attention, debate and solutions.


But right here, we don't need to touch on issues of state vs. local control, or NIMBYism, or that whole thicket right now.


Because right now we're worked up over the City of Los Angeles' failing approach to building density and affordable housing. We saw the problems firsthand at the June St. listing that we just sold.


L.A. wants the density. They've rezoned large swathes of city neighborhoods to allow multiple units in areas that were originally designated for single-family homes. On the lot in question up above, where there's now that cute 100-year-old duplex, a builder could now develop 4 units, probably each around 3-4 bedrooms and 1600-1800 sqft. That's room for a lot of new people, while just 2-4 will live in the duplex.


But recent state legislation (SB 8), and the way L.A. has chosen to follow it, perversely makes new, dense development less likely.


SB 8 was more or less intended to speed up development projects. However, L.A. is using some of its authority to hit the brakes on the most recent wave of development, which had largely seen replacement of older homes with 100 market-rate units.


Now, new units developed to be offered for rent (as most multi-family buildings are operated in the area) cannot all be put up at market rates. Some need to be reserved for &quot;affordable&quot; housing, at rental rates steeply discounted from market. This is sometimes referred to as &quot;inclusionary zoning,&quot; meant to limit &quot;gentrification&quot; of neighborhoods, which tends to push lower-income residents to outlying areas, or less desirable areas. 


All of these choices make some kind of sense, except the economics.


The market for land in the area dropped perhaps 40 overnight as SB 8 rules came into play this year in L.A.


Builders' projects don't pencil out anymore if they can't build units that can go up at market rate.


Sellers don't want to sell for the prices the builders need to pay.


As a result, you get owner-users buying older homes on valuable land, instead of getting density and new, larger units.


More typically out there in the world, true affordable housing projects come with a set of incentives to help developers' projects pencil out. There is a cottage industry of developers who specialize in the economics as well as the building part. 


Trying to force inclusionary zoning into neighborhoods without similar incentives means telling builders and sellers that they need to bear the full economic impact. (Building less-profitable projects or selling for less money.)


This is freezing development, negating a public policy goal the city has set for itself.


Here's hoping there are some solutions in Year 2 of implementing SB 8. The city can either do that, or try to repeal the law of supply and demand.


Rant concluded.
 ]]> </description>
    <pubDate>Tue, 31 Oct 2023 17:55:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/manhattan-beach-new-listings-1028-102923.html</guid>
    <link>https://www.mbconfidential.com/blog/manhattan-beach-new-listings-1028-102923.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Manhattan Beach New Listings (10/28-10/29/23)</title>
    <description> <![CDATA[ 
Let's be honest, it's hard to be in two places at once.


And that means this week, while launching our own new listing at 601 13th, we could not also go preview all of the week's other new listings. So we're running limited summaries of the balance of the week's new inventory below.


Please come out to 601 13th on Saturday or Sunday, for our 1:00-4:00pm open houses. Don't delay. We can't guarantee a second week.


Open house times for new listings are listed below, but you can also click SEARCHES then &quot;Open Houses&quot; at the top of our site, which displays all the Manhattan Beach open houses. There are also links right at the top to Hermosa Beach and Redondo Beach opens.


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

PLEASE NOTE: Below, we present listings new to the Manhattan Beach market this week, via the MLS. They are listed and brokered by a variety of agents and firms. The name of the listing broker and agent for each property, along with any contact information supplied through the MLS, is displayed with each property, next to the price. Blog author Dave Fratello of Edge Real Estate Agency is not the listing agent unless so stated with the listing. Excerpts of the listing agent's description of each property are provided in quotes.


Click on any property address or photo to open a new page with full listing details, all photos, listing broker and agent information, and other MLS information. Any observations and comments about listings represent the professional judgments and opinions of the author, Dave Fratello, not the listing brokers or agents. Please see our blog disclaimer.


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

Tree Section





 601 13th Street (4br/2ba, 2037 sqft.) is Dave's and Edge's latest new listing, in a great Tree Section area near downtown.


From our official description:


&quot;You can’t keep a secret forever, and it looks like the secret about 13th Street is out This little pocket of Manhattan Beach is incredibly close to downtown, offers ocean views, and has a quiet, unique and beachy vibe that’s hard to match. Now you have the chance to be a part of it all, in this much-beloved, custom-built home. The bright and open top floor features the main living spaces, with high ceilings, lots of light, peeks at the Pacific, and distinctive style.&quot;The owners who designed the home had, for years, operated a local shop dedicated to Mexican folk art, and traveled extensively to keep it stocked. They wanted the home to reflect what they loved, and you’ll see that in clay tile flooring, distinctive light fixtures, playful tile accents, stained glass windows and more. The floorplan features the primary suite upstairs with the living areas, with access to a small deck that also abuts the kitchen – an ideal spot for morning coffee, or another kind of sip later in the day. Up front, the main living room gets glimpses of Palos Verdes, downtown Manhattan Beach and the ocean, and has a balcony that beckons you to slow down and just sit and smell the salt air breezes, greeting neighbors as they pass by. Downstairs, there are three bedrooms, one with direct access to a saltillo-tiled patio area. A bonus room in back was created originally to host an in-ground hot tub, and now is as flexible as you might be in putting it to your own use.&quot;&quot;There is much to love here, and much opportunity to create exactly what you want. Now, here, on one of the hottest blocks in Manhattan Beach in 2023, you finally have your ideal chance to make your new home.&quot;


Click to see the Virtual Tour (3D)


601 13th Street begins at $2.700M and is open Sat. &amp; Sun. 1-4pm.


601 13th Street is listed by Dave Fratello, Edge.





 2605 Pine Avenue (5br/4ba, 3328sqft.)


From the official description:


&quot;Ideally situated in one of the most inviting streets in Manhattan Beach’s Tree Section is 2605 Pine, a beautiful 5 bedroom, three-and-a-half bath fully remodeled home that features a traditional floorplan, open spaces, and a sunny west-facing backyard. A Dutch door opens to a welcoming foyer, with a beautiful spiral hardwood staircase adjacent to an inviting sunken living room with a fireplace. The open-plan kitchen and family room are the heart of this charming home, with a center island, stainless appliances, countertop seating and a breakfast nook. The generous family room includes a fireplace and an abundance of space for gathering and relaxing, and opens out into a large patio and lushly landscaped yard. The formal dining room is strategically located next to the Chef’s kitchen and offers the perfect spot for entertaining friends and family. Upstairs, five bedrooms offer private living quarters. The tranquil Primary Suite features high ceilings, a private balcony and two-way fireplace, while the luxurious en suite Primary Bath comes complete with a soaking tub, shower and dual sinks. The four additional bedrooms are roomy and bright, and a nearby laundry room adds convenience. Sited within easy walking distance to the greenbelt in a quiet, friendly neighborhood.&quot;


2605 Pine Avenue begins at $3.999M and is open Sat. &amp; Sun. 1-4pm.


2605 Pine Avenue is listed by Jennifer Caskey, Compass.





 2413 John Street (4br/2ba, 1890 sqft.)


From the official description:


&quot;Experience the allure of this one-level, 4-bedroom gem on one of the Tree Section's most prestigious streets Cathedral beamed ceilings welcome you into living and dining areas adorned with a charming brick fireplace. Natural light bathes the entire home and bedrooms. Two sets of sliding doors allow for easy indoor/outdoor living. Opening up to a private backyard and patio, this setting is ideal for entertaining or quiet enjoyment. Each bedroom has a remote-controlled ceiling fan for comfort. Utilize the spacious 2-car garage with the option to charge your electric vehicle (220v), or use it as additional storage This is a highly regarded neighborhood with an A+ school district, one of the finest in the state. Living here gives you convenient access to the beach, greenbelt and the vibrant offerings of downtown, just a few minutes away. Lifestyle living....don't miss this opportunity&quot;


2413 John Street begins at $2.995M and is open Sat. &amp; Sun. 1-3pm.


2413 John Street is listed by Darren Pujalet, Re/Max Estate Properties.


East Manhattan Beach





 1637 1st Street (3br/2ba, 1402sqft.)


From the official description:


&quot;[S]tunning one-level home, fully renovated in 2023 to offer the luxurious California Coastal lifestyle. Located in East Manhattan Beach, this home is a true gem, boasting meticulous attention to detail and high-end finishes throughout. The spacious open-concept living area is complete with wide-hardwood engineered floors that seamlessly flow throughout the home. The heart of the home is the gourmet kitchen, featuring top-of-the-line Thermador appliances, and sleek quartz countertops. Through the sliding glass doors, you'll enjoy an extension of the living space onto the newly built deck which connects to the private yard. Kohler fixtures add a touch of sophistication to the bathrooms, creating spa-like retreats for relaxation. The master suite is a sanctuary, complete with a generous walk-in custom closet system, and an ensuite bathroom. Natural light pours in through brand-new windows, enhancing the airy, bright ambiance of the home. The property's front yard oasis beckons with lush landscaping, privacy hedges, and a serene atmosphere, providing a perfect space for outdoor gatherings. Every detail of this home has been carefully considered, from the all-new plumbing and electrical systems/panel, smart doorbell &amp; thermostat, sprinkler system, finished garage, CAT6 &amp; COAX wiring, to the thoughtfully curated design elements that exude Coastal California style.&quot;


Click here for the Virtual Tour (3D)


1637 1st Street begins at $2.849M and is open Sat. &amp; Sun. 1-4pm.


1637 1st Street is listed by David Caskey, eXp Realty of California Inc.





1612 Magnolia Avenue (4br/2ba, 1236 sqft.) sold 10 days ago in a different listing for $1.675M, and is back now at a markup.


From the official description:


&quot;[C]harming beach bungalow nestled in the heart of East Manhattan Beach. This 4-bedroom, 2-bathroom home presents a unique blend of move-in ready comfort and the potential to transform it into your very own coastal oasis. Situated on a picturesque tree-lined street, this home exudes the quintessential California beach vibe from the moment you arrive. As you step through the front door, you're welcomed into a spacious living room with an attached dining area, providing a warm and inviting space to relax or entertain. Venturing down the hall, you'll discover two generously sized bedrooms, perfect for family members or guests, who will share a convenient hallway bathroom. The versatility of the layout is immediately evident, with another bedroom currently configured as a dining room, offering you the flexibility to convert it back into a fourth bedroom, a home office, or a cozy den depending on your needs. The primary suite is a true sanctuary, with its vaulted ceilings and a private master ensuite bathroom.&quot;


1612 Magnolia Avenue starts at $1.885M and is open Sat. &amp; Sun. 1-4pm.


1612 Magnolia Avenue is listed by David Caskey, eXp Realty of California Inc.


Sand Section





 411 36th Street (3br/3ba, 1837sqft.)


From the official description:


&quot;Incredible opportunity to own an ocean view home on an oversized half lot (1749 sq ft) in the Manhattan Beach sand section just blocks from the beach and local restaurants and shops. This two unit property has a two bedroom, two bathroom upper unit with beautiful views of the ocean from the living space and front deck. Sunshine streams in from the many south and west facing windows providing warmth and light. Below is a one bedroom, one bathroom unit as well as a large two car garage. Outside is an additional 4 car parking on the driveway. This is a great opportunity for owners unit and rental income, or guest quarters, or a new build. A three story property can be built to provide even better ocean views from a top level. Come see the endless opportunities in north Manhattan.&quot;


411 36th Street begins at $2.550M.


411 36th Street is listed by Lauren Forbes, Compass.
 ]]> </description>
    <pubDate>Fri, 27 Oct 2023 18:58:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/13th-st-the-busiest-2-blocks-of-2023.html</guid>
    <link>https://www.mbconfidential.com/blog/13th-st-the-busiest-2-blocks-of-2023.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>13th St.: The Busiest 2 Blocks of 2023?</title>
    <description> <![CDATA[ 
In a relatively slow year for real estate, it's hard to find a street that's been busier than 13th St. just above Ardmore.


Just the 500-600 block of 13th has seen multiple listings, sales and leases this year.


And there is certainly more to come. (Hint, hint)


UPDATE: We were 1 day away from listing 601 13th when this post went live. Enjoy


It's a street that is part of a neighborhood that's incredibly close to downtown, yet the streets are quiet, with little traffic besides neighbors walking dogs.


We'd venture that many Manhattan Beach residents and visitors have no idea what the area is like, up 12th or 13th Streets, while even fewer know there is a Fisher Ave. between them, or that Highview extends from the Hill Section to the Trees.


The charm of the area doesn't explain why there has been so much real estate activity all of a sudden. You need willing sellers and properties coming vacant for lease. Here's a look at 2023's activity along 13th.


Pending and Closed Sales


We'll start with the Big Kahuna on the block, 1215 Fisher (5br/6ba, 5400 sqft.), on a corner at 13th.





This 2019 custom-built home was up at $7.999M and made a deal in less than 3 weeks. (It's currently in escrow.)


(1215 Fisher is listed by Jennifer Caskey of Compass.)


The home takes full advantage of this neighborhood pocket's special zoning. While the area is adjacent to and included within the Tree Section, a 2-block-by-3-block area here has, effectively, Sand Section zoning, allowing for 3-story and 30' high buildings, in part because the lots are cut smaller – more like Sand Section lots – with a typical 30' width to them.


The zoning change allowing 3 stories was made in the last days of the 90s, and virtually all new homes in the area since have been built to 3 stories, reshaping the feel of the area for sure. (There continues to be new construction in the area to &quot;fill in&quot; lots that hadn't yet been maxed out.)


1215 Fisher gets nearly 180-degree ocean views due to its favorable position at the top of the 500-block. Yes, ocean views from the Tree Section


Meantime, just across the street...





533 13th (2br/2ba, 1194 sqft.) is nearby, but at the opposite end of the spectrum.


This darling, 104-year-old vintage beach cottage was one of our own office's sales this year, and one about which we're super happy.


That's because the buyers wanted to keep the house, and they have done some remodeling to preserve it and keep it right there for years to come.


You rarely see preservation win out. It was even less likely with perhaps the last 1-story house (without a garage) in this district, which is otherwise being overhauled with new builds.


This sale closed in March at $2.255M.


Just a couple of doors up is 605 13th (3br/3ba, 1698 sqft.).


This is a beachy 2-story with an early-1960s build date, but recent remodeling. The sold listing stated:


&quot;Recent upgrades include the addition of a full bath on the lower floor and a balcony on the front of the house off of the family room. Hardwood floors throughout, all 3 bathrooms have been remodeled. Cute, bright and in great condition.&quot;


An off-market sale of the property closed for $2.600M in August. It was the &quot;sidecar&quot; referenced in this post, a property purchased at the same time as 604 14th (5br/8ba, 6114 sqft.), which went for $10.775M.


Just keep walking up the same side of the street a little bit, and you come across 641 13th (4br/3ba, 1803 sqft.). 


This early-1970s home was clean, but wanting a refresh.


It also took some time to find a buyer, beginning in October 2022, taking some time off during the holidays, and finally closing this year in March at $2.599M. (It had begun asking $2.900M.)


Although 641 13th is the second-highest on the hill that we'll discuss here today, it did not really have views, partly because it wasn't built to take advantage, and partly because it's just lined up in a row of homes that more or less block each other.





665 13th (3br/2ba, 2448 sqft.) is another early-1970s house up near the peak of the hill, but this one has been refreshed, with a new kitchen, baths and flooring, among other things.


When it first emerged in August at $2.999M, a deal came in within 2 weeks. But it didn't stick, the property came back, and it made a cut last week that seemed to help inspire a new offer. It went under contract on Monday, last at $2.899M.


(665 13th is listed by Vincent Serhan, Vista Sotheby's International Realty.)


So, hey, that's 5 sales in a little stretch of street within the calendar year.


And there could be another. (Stay tuned.)


Leases


If you know anyone who, like your blog author here, works full-time in local real estate, you know we've been handling a higher-than-normal number of leases in 2023.


Well, 524 13th (4br/3ba, 2280 sqft.) is a property that we've literally leased twice within this year.


This home is one that our client bought 10 years ago in original condition, then they radically remodeled and transformed it into a high-end beach house.


While they intended to use it themselves, as life rolled on, the home became a rental property that we've handled several times since the work was completed.


Early this year, we found a new tenant at $13,000/mo., but within a few months, an unexpected job promotion led those tenants to depart, so we just leased it again to new people at the same rate.


Not too far away, across the street, is 531 13th (3br/2ba, 1925 sqft.), which leased out at the end of 2022 at $10,500/mo., and since then we have seen listed off and on at a comparable rate as a shorter-term rental.


This is a story about 13th St., but it's also worth a brief mention that nearby 616 12th St. (5br/5ba, 4300 sqft.) sold in September for $6.925M, and that we handled (yet) another lease listing at 528 12th (4br/2ba, 2008 sqft.) at $11,000/mo.


There is, as we noted, more to come. Watch this space


 


 


 


 


 


 
 ]]> </description>
    <pubDate>Wed, 25 Oct 2023 12:13:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/manhattan-beach-new-listings-1021-102223.html</guid>
    <link>https://www.mbconfidential.com/blog/manhattan-beach-new-listings-1021-102223.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Manhattan Beach New Listings (10/21-10/22/23)</title>
    <description> <![CDATA[ 
The week brought a goodly chunk of new listings, of which 11 appear here below.


The Tree Section gets the most new offerings, but there's something almost everywhere. Don't miss the modern marvel new construction at 1216 18th in East MB.


Open house times for new listings are listed below, but you can also click SEARCHES then &quot;Open Houses&quot; at the top of our site, which displays all the Manhattan Beach open houses. There are also links right at the top to Hermosa Beach and Redondo Beach opens.


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

PLEASE NOTE: Below, we present listings new to the Manhattan Beach market this week, via the MLS. They are listed and brokered by a variety of agents and firms. The name of the listing broker and agent for each property, along with any contact information supplied through the MLS, is displayed with each property, next to the price. Blog author Dave Fratello of Edge Real Estate Agency is not the listing agent unless so stated with the listing. Excerpts of the listing agent's description of each property are provided in quotes.


Click on any property address or photo to open a new page with full listing details, all photos, listing broker and agent information, and other MLS information. Any observations and comments about listings represent the professional judgments and opinions of the author, Dave Fratello, not the listing brokers or agents. Please see our blog disclaimer.


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

Tree Section





 566 35th Street (5br/5ba, 4732 sqft.) is a special, oversized home with tons of space, a super fun basement and even a guest unit over the garage in back of the street-to-alley lot. 


The 2008 custom build greets you with classic East Coast style, nice stonework outside and, immediately, &quot;vintage&quot; flooring that looks as if it might have been reclaimed from an old barn.


The kitchen/great room, with its built-in seating by the window, is a magazine-worthy masterpiece. Oh, hey, they actually say the whole house was featured in Better Homes and Gardens OK then. There are doors out to the sunny, south-facing yard from there.


Basement features both a dedicated home theater with projection screen (yeah) and an elaborate wine room. (2,200 bottles)


There are four bedrooms on the top level, and a fifth out in back in the aforementioned guest unit over the garage.


From the official description:


&quot;This truly special home, featured in Better Homes and Gardens... features a basement, separate guest house, a home theater, and vintage wide plank pine floors throughout. With exceptional curb appeal including a winding flagstone pathway, charming bay window and verdant front yard with mature trees, this residence is resplendent in its understated elegance. Step through the Dutch door into the formal living room topped with hand-hewn oak beams and housing a wood-burning fireplace and full wet bar. The formal dining room is surrounded by wainscoting and features a butler’s closet as well as French doors leading to an outdoor patio. The recently remodeled kitchen offers a brand-new GE Monogram 36” fridge, 36” freezer, and microwave; two new Bosch dishwashers; a Thermador range with six burners and griddle; dual Thermador ovens with warming drawer; a SubZero wine fridge and Monogram under-counter refrigerator drawers. Custom cabinetry in the kitchen offers a multitude of special functions. The open-plan room includes a breakfast nook and cozy family room with a stone fireplace and additional wet bar. The backyard includes a built-in bar and barbecue with outdoor sink, a custom fire pit, lush yard, and access to the two-car garage and upstairs guest house. Host friends and family in this well-appointed unit, boasting a full kitchenette, hand-hewn walnut floors, new central air, and flexible living spaces... The custom basement includes a home theater with a 4K projector and surround sound and built-in cabinets, a 2,200-bottle wine cellar, and a storage room.&quot;


566 35th Street begins at $5.250M and is open Sat. &amp; Sun. 1-4pm.


566 35th Street is listed by Jennifer Caskey, Compass. 





 657 36th Street (3br/3ba, 2856 sqft.) is large for a 3br, with a large formal living room up front and sizable family room and kitchen/dining in back.


Built in the 80s and with some upgrades since, this one will polish up nicely.


There's a full street-to-alley lot, and in the yard separating the home from the garage, the garden is nicely appointed with a pond with a little waterfall.


From the official description:


&quot;Once inside, you’ll be instantly struck by the warm and inviting traditional interior seamlessly blending timeless elegance with contemporary functionality. The main level reveals spacious living areas, ideal for entertaining and creating lasting memories. Each room is thoughtfully separated, providing both privacy and individuality. The living room features a vaulted A-frame ceiling and a wood burning fireplace, creating an inviting atmosphere. The formal dining room is intimate, perfect for hosting memorable dinners. The kitchen is equipped with high end stainless steel gourmet appliances, including Sub Zero refrigerator, Viking cooktop, KitchenAid double oven with convection, and Miele dishwasher, making cooking a true pleasure. The large eat-in nook on the other side of the kitchen is bathed in natural light and looks out to the backyard complete with slate patio, mature landscaping, turf lawn and koi pond. The adjacent family room has a beautiful cast stone fireplace, built in bar, and opens up to the backyard through French doors. All of the bedrooms are generous in size and upstairs where the laundry is conveniently located. The primary suite is oversized with vaulted beamed ceilings, two large closets and a patio overlooking the yard. The bath has a soaking tub, separate shower with steam and enclosed toilet. Additional amenities include AC, two car garage with built in storage, additional two car parking in alley and Tesla charging.&quot;


657 36th Street begins at $3.450M and is open Sat. &amp; Sun. 1-4pm.


657 36th Street is listed by Lauren Forbes, Compass.





 3525 Walnut Avenue (5br/4ba, 3509 sqft.) is a 2001-built modern/Mediterranean with some recent upgrades.


From the official description:


&quot;This light, bright, and airy home offers an impressive family floor plan... As you enter through the double doors, you'll be greeted by the grandeur of the soaring 2-story living room and formal dining room. The floorplan seamlessly flows into the heart of the home – a chef's kitchen adorned with an abundance of white cabinets and storage, and top-of-the-line stainless steel appliances, including a 6-burner/grill Viking cooktop, dual ovens, and a Sub-Zero refrigerator. The kitchen opens to an inviting breakfast nook and an open-concept family room, both of which exude an air of comfort and volume. Through the French doors in the family room, you'll find a tranquil stone patio equipped with a built-in fireplace and BBQ, providing the perfect setting for outdoor entertaining. Upstairs, you'll discover four generously sized bedrooms, three full baths, and a spacious laundry room, ensuring that everyday convenience is paramount. The large master suite is a retreat in itself, featuring a substantial walk-in closet and a spa-style bathroom with a separate tub, a large shower, and dual sinks. French doors lead to a private balcony, where you can enjoy your morning coffee or simply bask in tranquility.&quot;


3525 Walnut Avenue begins at $3.749M and is open Sat. &amp; Sun. 1-4pm.


3525 Walnut Avenue is listed by David Caskey, eXp Realty of California Inc.





 609 35th Street (4br/3ba, 1819 sqft.) is a modest, mostly original home along a lot with a step down in back, where there's an ample yard on this street-to-alley lot.


The property is being sold with a set of plans for a massive new house.


The property may look familiar – it was offered for 5 months from April to September under a different agent, at higher prices.


From the official description:


&quot;Nestled in the coveted Tree Section, this charming move-in ready home offers the ideal blend of comfort, convenience, and remarkable potential. Whether you're looking for an immediate place to call home or envision a masterpiece project, this property delivers on both fronts. With 4 bedrooms and 3 bathrooms throughout the 1,819 square feet of living space and a generous 5,405 square foot lot, this home has an abundant blueprint that includes a little bit of everything. Enjoy the bonus basement, which adds an extra layer of versatility to the living experience. The massive backyard offers space for entertaining while also offering access to the detached 2-car garage and a street-to-alley entrance, ensuring ample space and ease of access. For the visionary buyer, there's a golden opportunity to explore. Plans are already in place, meticulously designed ... for a future 6-bedroom, 6-bathroom, 5,800+ square foot home, complete with a 3-car garage and an ADU. Approvals are imminent, promising a streamlined path to your shovel-ready dream home.&quot;


609 35th Street begins at $2.575M and is open Sat. &amp; Sun. 1-4pm.


609 35th Street is listed by David Caskey, eXp Realty of California Inc. 





 3629 Oak Avenue (3br/3ba, 1822 sqft.)


From the official description:


&quot;As you step inside, you'll be captivated by the vaulted ceilings and exposed beams with natural light shining through from all angles. The french doors to the back yard patio as well as the gas burning fireplace add a touch of elegance and character to the space, making it truly beautiful. The hardwood floors from the moment you enter the home offers beautiful interior living. The kitchen boasts all new appliances, ample storage space, and a stylish design that is both functional and aesthetically pleasing. It's the perfect place to whip up delicious meals and entertain guests. The 3 bedrooms are all upstairs. The extra large primary suite delivers more than enough space for furnishings, a walk-in closet and a balcony with tree top views. The two additional bedrooms are filled with natural light, providing a serene retreat after a long day and the bathrooms are tastefully designed. The backyard is definitely a bonus A delightful space with plenty of room to relax, entertain and play.&quot;


Click here for the Virtual Tour (Video)


3629 Oak Avenue begins at $1.999M and is open Sat. &amp; Sun. 1-4pm.


3629 Oak Avenue is listed by Nicole Reis, Compass.


East Manhattan Beach





 1216 18th Street (4br/5ba, 3399 sqft.) is a &quot;soft modern&quot; masterpiece that quickly jumps to the top of the list among suburban new construction in Manhattan Beach, including both the Tree Section and East Manhattan.


From the official description:


&quot;A soft modern, luxury new construction home with fabulous curb appeal on a short, quiet, tree-lined street w/sidewalks... 10 skylights throughout to allow amazing light into the home. Glass railings inside &amp; out, beautiful hardwood floors throughout, and custom iron &amp; glass upper cabinets in the kitchen that highlight the hand-painted marble tile. Lighting- there are numerous LED lit skylights, modern state-of-the-art lighting/controls (Smart Lutron Caseta System w/ the option to expand &amp; integrate other smart products ... Amazon, Apple, Sonos, or Ring). This Lutron Smart System can be controlled by switch dimmers, smart devices, or by voice control from anywhere &amp; the ability to set timers &amp; scenes (i.e. entertaining, general night lighting, away modes etc)&quot;


&quot;The secondary light sources inside the home allow great ambiene lighting behind bathroom mirrors, night-lit toe kicks, under counter lighting, lit interior coffee station cabinet, &amp; closets with auto LED lighting. The outside lighting offers great curb appeal &amp; good usable lighting along the step edging and walkways as well as decorative hanging lights in the front exterior tree. 20 high-quality speakers installed in/out. The oversized garage has rough-in plumbing &amp; electrical for an additional W/D, sink, wine refrigerator as well as electric car chargers (2).&quot;


&quot;The exterior artificial turf offers low maintenance &amp; is pet-friendly. The laundry room is spacious &amp; comes with an LG stackable washer &amp; dryer, a custom built-in drying rack, built-in magnet board for daily reminders or displaying treasured artwork as well as a built-in beverage refrigerator with top rack wine storage (this room is adjacent to the upstairs family flex space). The front yard &amp; the oversized front porch, which offers a built-in swing and additional seating, makes the front of the home appealing and very useable. The enclosed backyard is private &amp; secure and is an additional living space adjacent to the large covered porch which offers seating &amp; dining areas as well as a built-in fireplace &amp; an outdoor cooking area. This luxury home is truly unique as it appeals to the most discriminating buyer who appreciates style &amp; features found in many of the finest homes in the South Bay.&quot;


1216 18th Street begins at $4.389M and is open Sat. 12-5pm &amp; Sun. 1-5pm.


1216 18th Street is listed by William Mar, Strand Hill Properties. 





 13 Coronado Court (3br/3ba, 2023 sqft.) hides a mightily redone home behind the Village's traditional exterior.


We've seen Plan 4 units like this remodeled – we even have clients who have done a superb job with one – but the pop and buzz and style on this redo is almost otherworldly.


As a note, the original plan had a step-down living room and galley kitchen, but here they're removed walls and leveled out the flooring. It's almost impossible to know you're in the Village here.


Location is very close to the entry area, with its pond and pool, with lots of treetop views from the upstairs rooms.


From the official description:


&quot;Come see this completely remodeled and reimagined Manhattan Village townhome Once a 'plan 4,' now a 'plan-ultra chic'. Soho meets Manhattan Village Designed with super fun and artsy accents, the home is also reconfigured to maximize space and functionality.From the curbside front entry, walk into an enormous great room (no longer split level) that can literally become part of the large outdoor space when the large 8' patio doors are opened. An entertainers dream The great room is accented with dramatic beamed ceilings with added loft above. A huge chefs kitchen includes a large Carrera [sic] marble island, 6 burner 48&quot; Thermador range, a massive 60&quot; side by side fridge and intelligently crafted cabinetry for maximum storage. You will find added skylights throughout the home, drenching it with natural light. The master suite boats a large bathroom with trendy accents and unique features and high end finishes. Choose a freestanding tub, or shower with a hot steamer. Use the added loft as an office or 4th bedroom or exercise room. Stay cool all summer with central AC, seldom found in Manhattan Beach. This cool vibe home has it all and then some. This is a must see&quot;


13 Coronado Court begins at $1.950M.


13 Coronado Court is listed by Bob Sievers, Re/Max Estate Properties.





 1208 23rd Street (3br/3ba, 2157 sqft.) is an impressive flipper turnaround on a property that just sold in July.


From the official description:


&quot;'Designed for the Present' is what you will find in this 1940s reimagined home in the exclusive Manhattan Heights enclave of Manhattan Beach. Completely renovated from top to bottom, you've found what you're looking for ... Recent turn-key remodel cheers &quot;Great Taste&quot; for those accustomed to the best in quality design, finishes &amp; lifestyle. Upon entering your bright &amp; welcoming foyer, &quot;nothing is like home&quot; and you're immediately drawn to the coziness and warmth of what the home has to offer: Open galley kitchen with a five-seat breakfast area with ample quartz countertops and sleek, new cabinetry.&quot;


&quot;All brand-new Samsung home appliances such as refrigerator, dishwasher, convection/microwave, oven, five-burner stove, and an LG Direct Drive stackable washer/dryer. Other interior features include wide plank luxury vinyl flooring throughout both levels of the house. From your dining area, step down onto your cheerful, lavish bonus living room/den (two sliders for ease of access to your rear patio &amp; yard) and take in the sun-drenched landscape &amp; private grounds for peace and quiet. The large downstairs north bedroom en-suite has lots of space with a full bath shower tub and an office nook. The second downstairs bedroom is cheery as well, with an adjoining sleek guest bathroom with quartz countertops, and a shower stall equipped with a rain shower head. Upstairs, you will be enamored with the primary en-suite bedroom all to yourself, with a windowed office on the stairwell landing.&quot;


1208 23rd Street begins at $2.495M and is open Sat. &amp; Sun. 1-4pm.


1208 23rd Street is listed by Marco Pirozzolo, Vista Sotheby's International Realty





 1750 Marine Avenue (3br/2ba, 1292 sqft.)


From the official description:


&quot;Liberty Heights home that is a short walk to MBMS, Polliwog park, Meadows Elementary school and shopping. 3 bed/1.5 bath home has some hardwood floors and some carpet. Attached two car garage with direct access. The possibilities are endless here so bring your tools or your contractor Private serene backyard and large deck perfect for entertaining. Property is being sold &quot;As is&quot;.&quot;


1750 Marine Avenue begins at $1.500M and is open Sat. &amp; Sun. 2-4pm.


1750 Marine Avenue is listed by Colleen Mcguire, Re/Max Estate Properties.


Hill Section





 1117 Pacific Avenue 7 (2br/2ba, 881 sqft.)


From the official description:


&quot;Nestled just 4 blocks from the beach on the border of the prestigious Hill Section and desirable Sand Section, this end unit single level condo is spacious and bright Beautifully remodeled with Bamboo floors, custom birch quaker style kitchen cabinets with rich granite countertops, 2 highly upgraded baths with designer tile and glass tile waterfall accents in the master and subway tile in the guest bath. Sophisticated style throughout with a clean modern aesthetic. Oversized skylight plus end unit exterior windows flood the open design with light. A private one car garage has plenty of room for boards and storage, plus adequate neighborhood parking for guests. This intimate seven unit building features a gated entry, and opens to a Palm Springs vibe common area with pool, sauna, entertaining space, and BBQ, Only a short walk or bike ride to the beach, trendy restaurants, bars and shopping in downtown Manhattan Beach as well as the Manhattan Mall.&quot;


1117 Pacific Avenue 7 begins at $1.099M and is open Sun. 1-4pm.


1117 Pacific Avenue 7 is listed by Jane Sager, Re/Max Estate Properties. 


Sand Section





 440 2nd Street (4br/4ba, 3427 sqft.) recently ended 5 months on market with a different agent, and now returns at a slightly lower price with new staging, a new look.


From the official description:


&quot;Ideally situated on a corner lot in one of the most inviting neighborhoods in Manhattan Beach’s southern Sand Section is 440 2nd Street, a welcoming four bedroom, three-and-a-half bath home that boasts a traditional floorplan, open spaces, and newly renovated outdoor living areas. A striking entryway with travertine floors and hardwood spiral staircase invites you into the sunken formal living room, with cathedral ceilings, bay window, and beckoning fireplace. The spacious formal dining room is strategically adjacent to the Chef’s kitchen and offers the perfect spot for entertaining friends and family. The open-plan kitchen and family room presents the hub of this hospitable home, with a center island, stainless appliances, countertop seating and a hidden wine fridge. The expansive family room includes a large fireplace and lots of room for gathering and relaxing, and steps out onto the recently renovated covered back patio. The easy-care turf yard winds around the house, newly landscaped with native plants and trees. Upstairs, four bedrooms offer deluxe private living quarters, including an airy en suite guest bedroom or office anchored by a fireplace at one end. The extraordinary Primary Suite is topped with vaulted ceilings and features French doors opening onto a private balcony, while the luxurious en suite Primary Bath comes complete with a soaking tub and shower and dual vanity. Two additional bedrooms are roomy and bright, and a full bath is conveniently nearby.&quot;


440 2nd Street begins at $4.299M and is open Sat. &amp; Sun. 1-4pm.


440 2nd Street is listed by Jennifer Caskey, Compass.


 
 ]]> </description>
    <pubDate>Fri, 20 Oct 2023 18:52:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/manhattan-beach-market-update-for-101523.html</guid>
    <link>https://www.mbconfidential.com/blog/manhattan-beach-market-update-for-101523.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Manhattan Beach Market Update for 10/15/23</title>
    <description> <![CDATA[ 
Let's start this in the form of a quiz.


Fact: Inventory at mid-month here was over 70 listings in Manhattan Beach.


Question: When was the last time Manhattan Beach had 70 or more listings (in one of MBC's twice-monthly market updates)?


a) May 2020


b) April 2023


c) July 2021


d) November 2022





The answer is July 2021, when the total was 72 listings.


Yes, it's been significantly more than 2 years since Manhattan Beach had 70 or more listings on market, like we do now. The Oct. 15, 2023, total was 74 listings. 


It was actually May 2021 when the total was last at 74 listings or more.


This is just one way to show how long-running the local inventory shortage has been. 


Previously, for long stretches of 2016-2020 – during the busiest times of year – inventory was routinely over 100 listings, even into the 130s for parts of 2019-20.


We continue to treat higher inventory today as a welcome development, because the market has been so rough for everyone without enough homes to buy or sell. Yet we're not really at a stage where the inventory is objectively &quot;high&quot; enough to raise concerns about impacts on DOM counts or prices.


What's that? You're curious where inventory was at the other times noted on the quiz question above?


May 31, 2020: 127 listings


April 15, 2023: 45 listings


November 30, 2022: 35 listings


In other news, we'll just take a quick look at 3 homes that went into escrow during the first half of October:


3509 Laurel (3br/2ba, 1364 sqft.), last at $2.550M


This little, original cottage was a house we actually sold several years ago to the current owners, who went to town and didn't miss a spot, modernizing it completely with a boho-beachy aesthetic.


The little galley kitchen was opened up to the living spaces, the doors opening to the side yard were replaced with foldaways to create an easy indoor/outdoor feel, and high-end design graces the kitchen, baths and incidentals.


3509 Laurel Avenue is listed by Christine Navarro, Compass





10 Cambridge (4br/3ba, 3058 sqft.), asking $3.200M


This mostly original Village SFR is on a prime cul-de-sac corner, overlooking the pool area and surrounded by bushes and trees. It's a special spot, with a bit more lot size as well (although some is just hillside). 


The home was on original Plan 2, but the current owners added a full-size 4th bedroom suite to the 2nd floor.


While it's still early, we're glad about this one in part because it was our buyer clients who got under contract on the property. If it closes, we'll have 2 clients on the same little block


10 Cambridge is listed by Kevin Pratt, Strand Hill Properties





1605 Magnolia (5br/4ba, 3383 sqft.), asking $3.995M


This 2006 build actually achieves &quot;timelessness&quot; with crowd-pleasing, classical style and a modern floorplan.


1605 Magnolia Avenue is listed by Audrey Judson, Pacifica Properties Group, Inc. 





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

Here's the rest of our local real estate market update report for the period ending 10/15/23:


&gt; 74 active listings as of 9/30/23 (+5 from 9/30/23) 


&gt; 58 SFRs (-5)


&gt; 16 THs (Flat)


See the Inventory list as of 10/15/23 here, or see the MB Dashboard for up-to-the-minute data.


Active listings by region of Manhattan Beach in this report:


&gt; Tree Section: 21 actives (-1)


&gt; Sand Section: 25 actives (-1)


&gt; Hill Section: 10 actives (Flat)


&gt; East MB: 18 actives (+5)


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

Sales data, including PPSF for all properties, are organized by sub-region of Manhattan Beach.


Here's a link to the spreadsheet: &quot;MB Pending/Sold as of 10/15/23&quot;.  (5br/4ba, 3383 sqft.)
 ]]> </description>
    <pubDate>Wed, 18 Oct 2023 13:38:00 -0700</pubDate>
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<item>
    <guid>https://www.mbconfidential.com/blog/manhattan-beach-new-listings-1014-101523.html</guid>
    <link>https://www.mbconfidential.com/blog/manhattan-beach-new-listings-1014-101523.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Manhattan Beach New Listings (10/14-10/15/23)</title>
    <description> <![CDATA[ 
Were you watching all week to see new listings come out, and kept seeing nothing?


It was a late bloom, just a few new homes, including an ocean-view condo, an East Manhattan condo, and a couple more. Total inventory on Saturday morning was at 74 listings.


Next week: Edge has something nice to share. We expect to be on market Friday. That's all we can say for now


Open house times for new listings are listed below, but you can also click SEARCHES then &quot;Open Houses&quot; at the top of our site, which displays all the Manhattan Beach open houses. There are also links right at the top to Hermosa Beach and Redondo Beach opens.


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

PLEASE NOTE: Below, we present listings new to the Manhattan Beach market this week, via the MLS. They are listed and brokered by a variety of agents and firms. The name of the listing broker and agent for each property, along with any contact information supplied through the MLS, is displayed with each property, next to the price. Blog author Dave Fratello of Edge Real Estate Agency is not the listing agent unless so stated with the listing. Excerpts of the listing agent's description of each property are provided in quotes.


Click on any property address or photo to open a new page with full listing details, all photos, listing broker and agent information, and other MLS information. Any observations and comments about listings represent the professional judgments and opinions of the author, Dave Fratello, not the listing brokers or agents. Please see our blog disclaimer.


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

Sand Section





 2407 Bayview Drive 3 (2br/3ba, 2203 sqft.) is a nicely refreshed and upgraded 1980s condo with unblockable, 180-degree ocean views from the top level.


There are also notable views from the primary bedroom on the middle level.


The original oak floors have been sanded and given an attractive whitewash, which provides a beachy vibe.


The rest of the home, while presenting in more-than-adequate move-in condition, is a bit unevenly upgraded, opening the door for a possible full remodel.


The primary bath, while clean, has countertops that suggest an early 2000s update, while the shower and bath are somewhat more original, but super clean. Meantime, the second bedroom suite appears to boast a more updated bath.


The kitchen has mostly original cabinets and dark granite counters.


The top level shows off spacious family room, dining room and eat-in kitchen, as well as the laundry room and a bath.


An oversized garage will park 4 cars, but it could be worth examining options for adding living space there under the new ADU rules. If you want to get really fancy, there may be a chance to go below grade to create a living space that opens to the patio/garden area waaaaaay down there. (Otherwise, that space is accessed from the entry level, going down, or a big spiral staircase from upper levels.)


From the official description:


&quot;Don't miss this rare opportunity to own an exceptional beach style penthouse condo on Bayview Drive in Manhattan Beach. Unparalleled 180 degree Panoramic Ocean Views at this highly coveted prime Sand section location is bright and spacious. Offers extraordinary un-blockable views of the Pacific Ocean from the spacious living room, dining room, kitchen, and master bed room expressing the true luxury of space. Yes, there are ocean views from two floors. If views of Pacific Ocean aren't enough, this home offers very rare, highly desirable oversized 4 plus indoor garage, for a total of 5 cars on site, making parking easy and convenient. The refreshed interiors radiate with natural daylight and energy while maintaining its beach charm. The large 25' deck lets you soak-up the sun while enjoying views of the ocean. Enjoy beautiful sunsets and the soothing sounds of the crashing waves over a glass of wine with friends. Easy access to beach, surf, biking and walking on the Strand, perfect for outdoor enthusiasts. The home features white washed wood floors, a romantic wood burning and gas fireplace. Separate laundry room with built-in washer and dryer offering functionality... This stunning home is close to the beach at the 24th Street break.&quot;


2407 Bayview Drive begins at $3.950M and is open Sun. 12-3pm.


2407 Bayview Drive is listed by Louis Scaduto, Premier Agent Network Inc. 


Tree Section





 3105 Oak Avenue (3br/2ba, 1967 sqft.) is a midsized home with 1 large bedroom downstairs, then the primary and another bedroom upstairs, sharing a large bath.


Living spaces downstairs are somewhat separated, rather than the &quot;wide open&quot; design that's more favored today.


The front/entry room hosts both formal dining and formal living, while a back room serves as an ample family room.


The kitchen is clean, but more vintage 1980s than current, which is also much the case for the baths.


From the official description:


&quot;This lovely traditional property is an ideal choice for those seeking a home with an abundance of natural light, voluminous ceilings and spacious outdoor living and entertainment spaces... The home has been lovingly maintained, with classic interior details and a large family room that looks out over the private, landscaped backyard with fire pit, deck, and speaker system. The outdoor area is perfect for entertaining or just relaxing. The main floor features one bedroom and a 3/4 bath while upstairs has the primary suite with private deck over looking the backyard and an additional bedroom. The garage could be finished for further living/guest/office space or built up to add an ADU.&quot;


3105 Oak Avenue begins at $2.375M 


3105 Oak Avenue is listed by Tony Barberi, Vista Sotheby's International Realty


East Manhattan Beach





 1807 9th Street (3br/2ba, 1487 sqft.) is a simple, unadorned 1960s ranch house.


It's the very definition of a blank slate, with potential to upgrade in place, expand in a major remodel, or – at the asking price – perhaps build new.


Just last year, full-size lots in East Manhattan (7500 sqft) were selling as high as $2.400M, but that market has obviously cooled recently.


From the official description:


&quot;Remarkable opportunity in East Manhattan Beach. This prime property boasts a generous and flat 7,500 square foot lot, making it an ideal canvas for those looking to enter the Manhattan Beach real estate market. The home features 3 bedroom and 2 bathroom at 1,442 SF. Whether you envision a remodel or dream of building your perfect home from the ground up, this lot offers endless possibilities.&quot;


1807 9th Street begins at $1.900M and is open Sat. &amp; Sun. 1-4pm.


1807 9th Street is listed by Jessica Swarbrick, Pacifica Properties Group Inc. 





 1456 Manhattan Beach Boulevard C (2br/3ba, 1152 sqft.) is a 2br condo with a sizable primary suite, and upgraded kitchen and baths. (The listing refers to the condition as &quot;partially-updated.&quot;)


From the official description:


&quot;Rare opportunity to purchase a partially-updated townhome with your own private attached garage in Manhattan Beach Set back from the street for a more quiet location, you enter to the bright living and dining area with luxury vinyl plank flooring, recessed lighting, gas fireplace, and access to large front patio. Updated powder room on this level as well. Flooring continues downstairs to spacious kitchen with white cabinetry, granite countertops, and stainless steel appliances, including brand new fridge and gas oven. Kitchen opens to a second patio, which is surrounded by tall vinyl fencing for extra privacy. Downstairs from the kitchen is a 2 car private garage with room for extra storage. Head upstairs to two bedrooms, the primary suite featuring an en-suite bathroom with shower/tub combo. Second bedroom with walk-in closet, hall bathroom, and laundry area are located upstairs as well.&quot;


1456 Manhattan Beach Boulevard C begins at $1.150M and is open Sat. &amp; Sun. 1-4pm.


1456 Manhattan Beach Boulevard C is listed by Reid C. Kaplan, Re/Max Estate Properties





 1639 3rd Street (4br/3ba, 4098 sqft.) is back on market after a couple of weeks off.


While the unique Queen Anne is only technically a &quot;new&quot; listing, we liked being able to show it off again, in case you haven't already reviewed the photos of this museum piece.


The official description tells a story:


&quot;One of the most prominent and historically significant residences in the South Bay, the Halfhill-Bell Queen Anne Colonial Revival Victorian mansion was built between 1903 and 1905 for Albert P. Halfhill, the inventor of tuna canning. Originally built overlooking MacArthur Park (then Westlake Park), the once grand home was purchased by the Bell family in 1983 and transported to Manhattan Beach where it underwent extensive restoration for the next 12 years. Decorative elements such as the foyer's fretwork plus the wainscoting, leaded and stained glass windows, pocket doors, and period lighting fixtures created an authentic Victorian showpiece. The home includes 5 bedrooms and 3 bathrooms, front and rear parlors separated by pocket doors, formal dining room with built-in sideboard, spacious kitchen with butler's pantry, separate breakfast room, and a large multi-purpose third floor. The Bells received an award from the Los Angeles Conservancy as well as recognition from The Manhattan Beach Cultural Heritage Conservatory. The 600 square feet above the detached 3 car garage is electrical and plumbing ready for an ADU, home office, or Mother-in-laws suite. This is a once in a lifetime opportunity to live in an architectural treasure while making memories for the future.&quot;


1639 3rd Street begins at $3.200M 


1639 3rd Street is listed by Maribel Mejia, Realty ONE Group United
 ]]> </description>
    <pubDate>Sat, 14 Oct 2023 09:04:00 -0700</pubDate>
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<item>
    <guid>https://www.mbconfidential.com/blog/record-fast-price-cut.html</guid>
    <link>https://www.mbconfidential.com/blog/record-fast-price-cut.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Record Fast Price Cut?</title>
    <description> <![CDATA[ 



It was just last week that the fashionably remodeled single-level East Manhattan home at 1707 10th debuted at $3.499M.


And then, on the seventh day, they cut. Big.


It was a quick drop to $3.200M, a cut of $299K (-8.5).


That's an unusually fast change in strategy and price.


It's interesting to see today, as we fill in a little backstory.


We had a client with potential interest in the property as it came out, so we did some digging on the buyer's behalf.


Even before talking to the listing agents, we learned that the sellers of 10th St. were under contract on another specific property, which also had at least one other offer, and that this would be a contingent sale. (They would need to sell this to buy the new place, and any buyer for 10th would have to understand the sellers needed to be able to close on the &quot;upleg&quot; [new house].)


When our client said the price looked pretty high at $3.5M, we had to say we agreed. Almost all of the recent comps were significantly lower. Except one, in what seems like an outlier, but a very recent sale: 1632 Ruhland (4br/3ba, 2638 sqft.), which was asking $3.500M (what?) and got $3.700M (wow).


So the discussion with the client was: If they don't get an immediate offer on 10th, the sellers are going to have to make a move real soon or they risk the upleg. Go see it. We'll stay close.


Alas, the buyer visited 10th and said it was beautiful, but didn't suit their needs for now.


And then... Turns out we were right.


Along came the big price cut, with this language added up front, all caps, to the beginning of the listing:


&quot;PRICE IMPROVEMENT OF $300K FOR CONTINGENT SALE&quot;


Since, in today's world, everyone wants to see more transparency on commissions, we can also mention something else. When this listing first emerged, the sellers &amp; sellers' broker were offering a 2.0 commission to buyers' agents. Commissions are always negotiable, but that buyer agent fee was below what has been standard in Manhattan Beach for a long time.


With the change in price, they also increased the buyer agent fee to 2.5, the more typical fee offered on local listings. (MBC displays the commission offered to buyers' agents on all listings, as is permitted under the MLS rules.)


So at once, they're trying to attract more buyers with the price, and more buyers' agents by offering full-fare, typical commissions.


(There is really no evidence that any buyer's agent has refused to show or offer on a listing that offers lower fees, but we'll probably never convince you, plaintiffs' attorneys or the federal DOJ, since common sense appears to argue the opposite.)


As we said recently of a different listing, anyone can start out too high, for any reason.


The question is what you do about it.


If you have a contingent offer under contract, the question is also when you do something about your high price on your listing.


Really fast is the best answer to &quot;when,&quot; like here on 10th St.


Root for 'em


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

UPDATE: Unfortunately, the strategy didn't work, the upleg fell out of escrow and the listing for 1707 10th was canceled.


 
 ]]> </description>
    <pubDate>Fri, 13 Oct 2023 15:30:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/looking-at-more-q3-data-from-the-market.html</guid>
    <link>https://www.mbconfidential.com/blog/looking-at-more-q3-data-from-the-market.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Looking at More Q3 Data from the Market</title>
    <description> <![CDATA[ 
With Q3 2023 wrapped up just about 10 days ago, we're continuing to study the market based on data that comes out of that first, main chunk of the year.


We've already taken a first look at inventory trends and sales totals in our recent market update.


Here's a closer look at some more noteworthy data points.


Median Price Kept Wobbling


The median home price for Manhattan Beach has remained pretty solid, even rising after Spring 2022 interest rate jumps froze the market last year, ending the 2020-21 rally.


After holding up at a high level, the median price seemed to reset abruptly this Summer.


The figure may wobble a bit now, but seems to be sticking in this new territory.





The shocking drop from $3.100M to $2.800M occurred between May and July, then the median bounced a little up to $2.900M in August. Now it's lower at $2.787M.


That's a bit lower than June 2021's $2.800M.


Looking at pending escrows in Manhattan Beach today, there are fewer than 20, but the median price among those is $4.000M. (See our full page about median home prices in Manhattan Beach, including links to past analyses.)


Dollar Volume Stopped Dropping, Now Rising


With less inventory and many, many fewer sales, naturally the amount of money being spent by buyers for local homes has been dropping for a long time.


That trend has finally ended, and there's a modest uptick now.





We pull data for home sales dollar volume in 12-month blocks.


As the late-2020 and early-2021 markets became frenzied, that dollar volume eclipsed $3 billion for the first time in history. August 2021 became the peak at $3.57B.


But soon after, and throughout 2022 and most of 2023, it was a steep ski slope downward.


The 12-month dollar volume figure dipped under $2 billion in May this year, and bottomed out in July at $1.72B.


That &quot;valley&quot; was less than half the peak value from almost 2 years prior, down 52 from Aug. 2021. (Gulp)


Now, dollar volume is up again.


August was the first bounceback month, and September closed at $1.88B.


A small caveat: Dollar volume does tend to decline late in the year and into January/February of the ensuing year. So we won't be surprised if this figure wobbles a bit. 


Months of Supply Keeps Rising


A common measure of market activity aims to capture the pace of sales relative to inventory.


That figure is called &quot;months of supply,&quot; and it's been rising without interruption for 18 months.





&quot;Months of supply&quot; takes into account the pace and number of homes going into escrow, along with active inventory. The number of months is a figure that estimates how long it would take to sell every listing on the market.


It's not too alarming that months of supply rose from early 2022, when it was at an incredible low of 1.5 months. Imagine going to Target day after day, finding there's a line at the door, and by the time you get inside, there's almost nothing but empty shelves. That's what 1.5 months looks like in housing.


Now that months of supply has reached 3.6 months, we're at a point that has somewhat rarely been seen in our market, just about 3 years total out of the past full 12 years. Most of that time at 3.6 months or higher was in the cooling market of 2018-19 and the first year or so of the covid-19 pandemic. 


The conventional wisdom with &quot;months of supply&quot; used to be that 6 months signaled a &quot;buyer's market.&quot; But in the internet age, it's more accepted that about 4 months equals a buyer's market.


Mainly this is a trend to watch.


Buyers don't necessarily feel like it's a buyer's market. There's little inventory, and not too much give in prices.


We've been surprised to see &quot;months of supply&quot; rising at a time when inventory is low, days on market to sell is low (11 DOM) and nothing really seems to be hanging around.


But that's why we track data, and don't only go on anecdote.
 ]]> </description>
    <pubDate>Tue, 10 Oct 2023 16:27:00 -0700</pubDate>
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<item>
    <guid>https://www.mbconfidential.com/blog/manhattan-beach-new-listings-107-10823.html</guid>
    <link>https://www.mbconfidential.com/blog/manhattan-beach-new-listings-107-10823.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Manhattan Beach New Listings (10/7-10/8/23)</title>
    <description> <![CDATA[ 



It's time for the annual Hometown Fair, and another chance to remind yourself what a special little town Manhattan Beach is.


Less time at open houses, more time out on open fields grabbing snacks and visiting vendors. Oh, what's that? They have a beer garden? Tell me more.


This year, one of the fair's unofficial stars is a 20-year-old goldfish won at a previous Hometown Fair. Read all about &quot;Paco&quot; the fish on our sister site, MB News.


There are so many new listings this week, our reviews are limited, but we've got 'em all here. Enjoy.


Open house times for new listings are listed below, but you can also click SEARCHES then &quot;Open Houses&quot; at the top of our site, which displays all the Manhattan Beach open houses. There are also links right at the top to Hermosa Beach and Redondo Beach opens.


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

PLEASE NOTE: Below, we present listings new to the Manhattan Beach market this week, via the MLS. They are listed and brokered by a variety of agents and firms. The name of the listing broker and agent for each property, along with any contact information supplied through the MLS, is displayed with each property, next to the price. Blog author Dave Fratello of Edge Real Estate Agency is not the listing agent unless so stated with the listing. Excerpts of the listing agent's description of each property are provided in quotes.


Click on any property address or photo to open a new page with full listing details, all photos, listing broker and agent information, and other MLS information. Any observations and comments about listings represent the professional judgments and opinions of the author, Dave Fratello, not the listing brokers or agents. Please see our blog disclaimer.


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

Tree Section





 1215 Fisher Avenue (5br/6ba, 5400 sqft.) is a 2019 build with big ocean views from the top floor.


It's a masterful, beautiful property, but for whatever reason it's looking for its third owner in about 4 years. The most recent sale, late in 2020, was at $6.550M.


From the official description:


&quot;[A] beautiful Coastal Modern residence, custom built in 2019 on an ideal corner lot in a location central to downtown shops and restaurants as well as the Strand. Featuring five en suite bedrooms and six baths in 5400 square feet, this home offers every amenity... European white oak flooring throughout, and unending ocean views. Four levels of bright interiors include panoramic ocean views from the stunning, wide-open top floor, where the enchanting living room houses custom cabinetry, a bar, and a contemporary fireplace. The private terrace is accessed via glass pocket doors and provides seamless indoor/outdoor living with an idyllic place watch the sun set. A wall of windows along the dining area delivers a front-row view of the panoramic vistas from Palos Verdes to the Santa Monica mountains.&quot;


1215 Fisher Avenue begins at $7.999M and is open Sat. &amp; Sun. 1-4pm.


1215 Fisher Avenue is listed by Jennifer Caskey, Compass





 1701 Poinsettia Avenue (3br/2ba, 1840 sqft.) is a 1950s-era corner-lot ranch house that somehow feels iconic.


Probably that's just because it's one of those houses you seem to see constantly passing by, and it exudes a certain throwback charm.


Turns out, the current owners gave the home a complete modernization, so even if the home maintains that old-time vibe, inside, it's got all the expected modern styles and conveniences.


From the official description:


&quot;Located on a premium corner lot in the renowned Manhattan Beach, this home is a testament to elegant coastal living... Rich hardwood floors guide you through its open-concept living area, where one of two exposed brick fireplaces creates a cozy ambiance. Vaulted, beamed ceilings add a nice architectural detail while making the space feel generous. Large windows and sliding doors open to a private yard, offering seamless indoor-outdoor living. The outdoor space has a beautiful flagstone patio, perfect for a dining table, as well as a grassy area for play. In the kitchen, vaulted ceilings, recessed lighting, Quartz counters, designer tile backsplash and a farmhouse sink perfectly complement the custom cabinetry, providing an elegant yet functional space. A large center island serves at the focal point in the kitchen and offers a space for food prep as well as a place for a casual meal.&quot;


1701 Poinsettia Avenue begins at $3.275M and is open Sat. &amp; Sun. 1-4pm.


1701 Poinsettia Avenue is listed by Cari Corbalis, Vista Sotheby's International Realty





 2605 N Poinsettia Avenue (3br/2ba, 1190 sqft.) might look familiar.


It was marketed in April through June this year, a probate listing that had to go to a court confirmation process, where it closed for $1.700M.


The very original home is back now at a substantial markup. If you didn't go to court to get this on an overbid basis, you now have a much greater premium to pay.


From the official description:


&quot;Welcome to this LOVELY 3 bedroom, 2 bathroom home within the HIGHLY sought after Tree Section Neighborhood of Manhattan Beach. With it's charming vintage detail and original character, this property offers a unique opportunity to restore it to its full potential and create the home of your DREAMS The location of this home offers an AMAZING lifestyle...&quot;


2605 N Poinsettia Avenue begins at $2.295M and is open Sat. &amp; Sun. 1-4pm.


2605 Poinsettia Avenue is listed by Itxel Marquez, 1 Vision Real Estate


Hill Section





 717 Anderson Street (3br/2ba, 1425 sqft.) is a dollhouse of a remodel on a smallish lot.


From the official description:


&quot;Situated on a quiet, Low Traffic street, this Warm Inviting Family Home presents even more than meets the eye. Every room of this Open and Sunny 3BR, 2 BA home has been Extensively Updated, as well as much of the Infrastructure. From the Steel framework of the watertight upper deck off the primary BR overlooking the Spacious beautiful backyard, to the Outdoor Family Room patio beneath, to the Solar Panels on the newer roof, to the EV Charging Station , new Front Exterior, and new Garage Doors…all the way to the new sewer Main Line and much more, it’s all been done for you. So you can just relax and enjoy this Entertainer’s Delight. The Spacious Outdoor Family Room patio extends to the Large Backyard...&quot;


717 Anderson Street begins at $2.849M and is open Sat. &amp; Sun. 2-4pm.


717 Anderson Street is listed by Steven Santos, Re/Max Estate Properties


Sand Section





 4308 The Strand (5br/5ba, 4354 sqft.)


From the official description:


&quot;Magnificent Beachfront Masterpiece on The Strand, Manhattan Beach... Nestled on the globally recognized 'front row' location of Manhattan Beach, this residence located on The Strand promises unparalleled luxury. A testament to refined coastal living, this contemporary gem sitting on a full 33’x105’ lot, is truly the union of a perfect location and masterful design. Spread across a sprawling 4,300+ square feet and 3 levels, panoramic views paint a pristine composition of the sand to the hypnotic stretches of the Pacific Ocean. With the future in mind, this house integrates cutting-edge Tesla solar technology ensuring sustainable luxury. Each of the 5 bedrooms and 4.5 bathrooms exudes tranquility, with the living room and oversized primary suite stealing the limelight... Sweeping high ceilings amplify the sense of space, setting the stage for grandeur.&quot;


Click here for the Virtual Tour (3D)


4308 The Strand begins at $12.500M


4308 The Strand is listed by Molly Graw, Pacifica Properties Group, Inc.





 221 4th Place (3br/4ba, 2500 sqft.) is an oversized townhome with some ocean views that may be somewhat protected, based on what we heard about a neighbor's acquisition of one &quot;low&quot; property that affords those views today.


If you're accustomed to local townhome layouts, this one will be familiar, with the primary and one more bedroom on the middle floor, a suite downstairs, and wide-open living spaces upstairs. It's all just a little bit more than you'll usually see.


From the official description:


&quot;This modern 3 bedroom, 3.5 bath 2,500s.f. townhome enjoys 5’ more lot width at 35’ than most other similarly priced townhomes. You feel the extra width on all three floors, extra garage and carport space as well as large walk in closet on first floor, huge master suite on second floor and one of the more expansive top floor living areas of any townhome with arguably the largest kitchen for an interior lot townhome in the sand section... Large deck off of great room for outdoor dining or just watching the day end on a summer day. Short walk to town and the shops and restaurants or beach, Robinson Elementary School.&quot;


221 4th Place begins at $3.295M


221 4th Place is listed by Lee Legrande, Palm Realty Boutique, Inc.





 308 2nd Street (2br/2ba, 1375 sqft.) is a smallish corner lot home on a half lot in the South End.


There's extra value, however, in the option to purchase the property in front at the same time, which is presented as an option, though that property (120 Highland) is not officially listed.


From the official description:


&quot;Embrace coastal living at its finest in this Manhattan Beach home, perfectly positioned within the coveted Sand Section. Revel in the luxury of living just steps from the pristine beach, with breathtaking ocean views This residence boasts a well-thought-out layout, with a bedroom, bath, and a versatile bonus room on the first floor, offering flexibility and convenience. Ascend to the second floor, where the primary suite awaits, complete with its own en-suite bath.The heart of the home, the living room, seamlessly connects to the kitchen and opens up to ocean views, allowing you to savor every moment of beach living... For those with grand aspirations, the house in front (120 Highland) is also available for sale by the same owner. Combining both properties would provide you with a spacious 3,336 sq ft lot, offering endless possibilities to create your ultimate dream home.&quot;


Click here for the Virtual Tour (Slideshow)


308 2nd Street begins at $2.950M 


308 2nd Street is listed by Travis Jackson, WERE Real Estate


East Manhattan Beach





 10 Cambridge (4br/3ba, 3058 sqft.) is an original SFR in the Village, albeit one with a rare addition – the bedroom over the garage was added by the current owners after their 2001 purchase.


From the official description:


&quot;Situated on the hilltop at the end of a quiet cult-de-sac, this four bedroom estate home on a 10,748 square foot lot presents a rare opportunity in the Manhattan Village Community. This spacious home features a high ceiling open floorplan with a nicely remodeled kitchen and large family &amp; living rooms. Indoor/outdoor living with french doors throughout opening up to the fantastic yard and deck areas surrounding the house and overlooking the tree line. The corner location on the hill creates a private and serene living environment. The home includes plenty of extra storage areas in the house and garage, central air conditioning and two tankless water heaters.&quot;


Click here for the Virtual Tour (3D)


10 Cambridge begins at $3.200M and is open Sun. 2-4pm.


10 Cambridge is listed by Kevin Pratt, Strand Hill Properties





 1707 10th Street (4br/4ba, 2580 sqft.) is a long, single-level house with a high-style remodel.


From the official description:


&quot;[A] testament to exquisite craftsmanship and meticulous attention to detail. A striking blend of traditional ranch architecture and contemporary sophistication, this home is a true standout... Upon entering, you are greeted by rich, warm wood floors that seamlessly flow throughout the home, exuding a sense of timeless elegance. The heart of the home is the expansive open floor plan, where the kitchen and family room merge effortlessly to create a space that is ideal for both entertaining and everyday living. Natural light pours in through large windows and glass doors, creating an inviting atmosphere. The well-appointed kitchen is a chef's dream, featuring Thermador appliances, 2 center islands, and abundant storage. It serves as the focal point of the home and is complemented by a spacious family room, perfect for gatherings and relaxation. The master suite is a private oasis, boasting a generous walk-in closet and a spa-like en-suite bathroom, where you can unwind in luxury. The additional three bedrooms offer versatility, whether utilized as guest rooms, home offices, or personal sanctuaries. This property goes above and beyond with the inclusion of an Accessory Dwelling Unit (ADU) in the rear, providing valuable flexibility for extended family, rental income, or a private retreat.&quot;


1707 10th Street begins at $3.499M and is open Sat. &amp; Sun. 1-4pm.


1707 10th Street is listed by Jill Levine, Keller Williams Beach Cities
 ]]> </description>
    <pubDate>Sat, 07 Oct 2023 15:29:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/that-big-bet-house-makes-a-big-cut.html</guid>
    <link>https://www.mbconfidential.com/blog/that-big-bet-house-makes-a-big-cut.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>That 'Big Bet' House Makes a Big Cut</title>
    <description> <![CDATA[ 



It's been only two weeks since we last mentioned the &quot;Biggest Bet Yet on Rosecrans,&quot; meaning the new construction home at 908 Rosecrans (6br/6ba, 4112 sqft.).


(908 Rosecrans is listed by Bita Goodman, Sotheby's International Realty.)


At the time of that post, the listing had made 3 separate cuts of $100K each to drop to $4.695M.


Today, it was no haircut. This cut was everything from the chest up: -$496,000 to $4.199M.


The listing is now down almost $800K from start.


It's still a big, bold new home that we have called &quot;surely the most ambitious ever conceived on Rosecrans in the Tree Section.&quot;


It's still priced almost $2M above the record sales on Rosecrans:


716 Rosecrans (3br/2ba, 1500 sqft., 5162 sqft. lot) - $2.350M (Aug. 2022)


508 Rosecrans (4br/3ba, 3013 sqft., 3005 sqft. lot) - $2.340M (Oct. 2020)


940 Rosecrans (5br/4ba, 3239 sqft., 5975 sqft. lot) - $2.260M (May 2021)


652 Rosecrans (6br/6ba, 4730 sqft., 7300 sqft. lot) - $2.200M (Sept. 2016)


Given the still-great gap between asking price and past sales, this home remains in position to set some kind of record for the block, which doesn't often get prime new builds like this.


Now, we don't mean to present this one as a market indicator.


Anyone can start way too high, and when they cut – 16 so far, in this case – it's more of a matter of trying to correct the list price itself, rather than a problem of needing to &quot;chase the market down.&quot;


But it's notable that this ambitious new construction is cutting at the same time as at least three somewhat comparable new construction homes are also dropping in price:


1813 Walnut (5br/6ba, 3150 sqft.) - down $99K after a month to $4.400M


3608 Laurel (5br/6ba, 3300 sqft.) - down $150K after a month to $4.749M


1209 Meadows (5br/6ba, 3344 sqft.) - down $171K after 7 weeks to $3.824M


908 Rosecrans is substantially the largest, compared to these new homes on the market, on the biggest lot (almost 6000 sqft.) and with a pool.


At about $4.2M, it's also got the lowest PPSF for any new home in Manhattan Beach: $1,021/PSF.


There will come a point when someone says, &quot;That's a lot of house for the money.&quot; When?



 ]]> </description>
    <pubDate>Thu, 05 Oct 2023 16:32:00 -0700</pubDate>
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