All Blog Entries by Dave Fratello

There are currently 2,195 blog entries published by Dave Fratello.

If you're looking for a family-size home in Manhattan Beach, your mainstream choices are going to be in the Tree Section or East Manhattan.

While both areas have seen a fair share of sales this year, right now there are more listings than deals in East MB.

You might begin to wonder: Is this a seasonal phenomenon, or the beginning of a bulge of inventory?

We can't draw conclusions in October, but we can observe where buyers' choices are growing:

1561 Gates (5br/6ba, 4375 sqft.) (pictured) is a 1980s Mediterranean that just came to market asking $2.450M. (See our open-house post for more.) Lot size: 7500 sqft.

1751 Curtis (5br/4ba, 3750 sqft.) is a 1980s original that got a 100% total interior remodel and looks great. It began 2 months ago,

Have you ever tried to type on a melted keyboard? It's tough. But here at MBC, we press on.

Art has its day Sunday in Manhattan Beach – in a first-of-its-kind Hill Section Art Walk. Eight local artists will open their homes to display their work and home studios.

The Art Walk runs 1-5pm on Sunday. For more details, see this story on the 100% local news site, (that's also the only way to get the addresses; you'll need to email the organizers).

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. (Note: The BR now uses a new format, said to be more mobile-friendly.)

Don't forget, when previewing homes here on MB Confidential, you can click "Open All Images"

There's more data coming in on Sand Section lot values.

South of the pier, two neighboring lots were offered for a time together – one big $10 million plot of 5400 sqft. total.

It didn't work, so the lots wound up being sold separately.

The newest closing is at 229 4th St.

Asking $5.000M for a while, it's now a done deal at $4.800M.

It was just back in mid-August that the neighbor sold.

235 4th closed for $3.850M.

Both sales say a lot about dirt values... One at $1,425/PSF for the land alone, and one at $1,777/PSF for dirt.

Way back in May this year, while both lots were on the public market seeking buyers, MBC posed the question:

Is it worth $1M more to be one door west off of Highland?

And the answer turns out to be, basically, yes. Or at…

You want to sell, or maybe have to sell quickly to make something else happen.

So you want to get it done, but not leave money on the table.

Maybe try underpricing. They just did at 881 3rd St. in the Hill Section, and closed a sale in less than a month.

List price: $4.000M.

Sold price: $4.500M.

The tactic might sound scary.

How will you ever know how much money you could have made if you don't put a big, fat price tag on it?

So here's the question: Do you trust the market to work?

Experience seems to show that competition brings you to market level quickly.

We'll often counsel sellers that if we can get 2 or more bidders, we'll find the right price quickly. But that's the goal for pricing near market level.

Price way under market, and it's like…