All Blog Entries by Dave Fratello

There are currently 2,107 blog entries published by Dave Fratello.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

A new listing at 1308 Ardmore shows the power of real estate appreciation over time.

But maybe first and foremost, the staying power of this home is what impresses.

An original cottage was built at 1308 Ardmore way back in 1905.

The city of Manhattan Beach was not even formally founded for another 7 years.

There weren't so many residents in the area then, but MB was becoming a tourist destination. Most folks came to splash around at the beach by way of the Red Car electric trains, on tracks running along the sand, right about where volleyball courts predominate now.

The little cottage soon had neighbors as Manhattan Beach was built out. Fast forward a great deal, and we see in tax records the last time this property changed hands: 1973, for the…

The real estate market in Manhattan Beach has been abuzz for a few years now.

Lots of big bets are still being made on its future.

Here's one of the newest teardowns-in-progress, right near MBC HQ – it made for a noisy Saturday. Coming on site: A big spec house.

Dave had a family commitment and didn't get to Friday brokers' opens, so this week, for the week's new open houses, we're mainly offering the official descriptions rather than formal reviews.

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

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