All Blog Entries by Dave Fratello

Not everyone is getting more today for a property than they might have in, say, 2014 or 2015. If the Manhattan Beach real estate market hasn't turned, its upward momentum has at least paused for a bit.

But for the folks who purchased a lot to build on in the Tree Section near town, at 1800 N. Ardmore, there was a modest profit to be made on a 2014 acquisition.

The big lot, a bit over 6500 sqft. on a rising corner, will make for a nifty building site, with the park, greenbelt and downtown all nearby.

The most recent owners went to the trouble of designing a slick, modern new home with a pool in the "front" yard along Ardmore. Or, as the listing put it more precisely, the sale came with:

"fully approved and permitted plans for a 6-bedroom, 5200 square…

Not one, but two new Sand Section listings this week are described as "old school."

Which, in each case, is mainly a nice way to say "old," and also "quite likely a scraper." You see how a difference in words can convey a different feeling.

This brings to mind how one of the little MBCs recently said of the crowd at an event he'd attended, "it was mostly senior citizens," noting the general lack of other kids. We congratulated him on his politeness.

So, yes, there's a virtue to being delicate, even if you're selling land.

Besides the two dirt sales we start with below, this week sees a wonder in the American Martyrs area at 625 17th, new construction way, way far east at 1771 Ruhland, and a couple of Mediterraneans, one in the Trees at 3008 Elm and one

Sometimes, sellers make mistakes.

Especially in a market like this one, where sellers can look back at a few years' worth of upward pricing momentum, see underlying strength in the market and the buyer pool, and get fixated on nabbing that big number that they always hoped their home might be worth.

Then reality intervenes. If there are no buyers at your dream price, the question becomes: Are we really sellers?

At 200 38th St. (3br/4ba, 1800 sqft.), a modern-style TH with nice views in El Porto, it looks like the sellers are answering, "Yes, actually, we'd like to be sellers."

You'll see in the property details here on MBC that the CDOM ("combined days on market") count is 89 as of this morning, even while this is a "new" listing as of Friday.

But…

Oh, to have the problems of people on The Strand...

There are people walking and running by your window all the time. Dogs doing their business in your "front yard." Sometimes the ocean is just too darn loud. And the upkeep – oh, the upkeep! Maintaining clean windows, replacing metal fixtures corroded by the salt air...

All of that, plus: No one seems to be able to sell a Strand house these days.

Everything seemed normal and endlessly positive with the sale in July 2015 at 304 The Strand for a cool $14.000M.

That was where South End Strand lot sales had gotten after busts of excitement at the start of our current rising market. (Is it still rising? Discuss.)

And ever since the heady days of that heady sale, no full-sized house or lot on The Strand has…