All Blog Entries by Dave Fratello

Found 2,370 blog entries published by Dave Fratello.

manhattan-beach-housing-inventory-2016 

For all of 2016, housing inventory in Manhattan Beach has been higher than in any of the prior three years.

Truly, these kinds of inventory numbers haven't been hit since at least 2008 or so, but we're focusing here on the change in the market now compared to very recent times.

A chronic "shortage" of homes for sale clearly contributed to the rapid rise in prices from 2012-15. (The median price for MB is still up this year. See "Would You Believe Prices Are Up?" from October 2016.)

Now that the "shortage" is over, the question might be: What other factors will sustain prices?

Our chart above sets each year against the others, looking at data citywide. A few things are readily apparent:

    1) Growth in inventory began around Summer…

Want a livable Manhattan Beach home for under $2M?

It can be done. Just adjust your expectations properly. Here are just a few recent sales just under that magic number, each in different parts of town.

In East Manhattan, the sale we're looking at is 1731 9th Street Manhattan Beach CA1731 9th (4br/3ba, 2300 sqft.). It's a 1970s build with updates that are more like 7-8 years old.

The home's pretty far east, but boasts a full-size (7500 sqft.) lot, which is one of the big reasons people go east.

Though the listing sold within about 10 days, they kept it in "backup offer" status nearly until it closed. In that status (the wording is now "Active Under Contract"), the listing accrued Days on Market up until the day of closing, totaling 77 DOM.

It sold technically over asking…

Should you hold open houses on a holiday weekend?

Should you hold them in the rain?

Yes and no. You could argue either way. It might be quiet, but the people who do come might be serious. (We just had that experience last weekend.)

This week's crop of 13 active listings that are posted as open is about 1/3rd of the number we've seen recently – and that is before rain threatens some of them. You can enjoy these online for now, and take your chances in person if there's a break in the weather, or if you've got your galoshes.

To plan your open-house tours for this week, use MB Confidential's online list of Manhattan Beach open houses (it's mobile-friendly!). Our open house link always appears in our weekly wrapups and on the main front page,

It's not often that the minutiae of real estate law wind up on the front page of your morning paper.

But there they are now, after an important California Supreme Court ruling on Monday. You may browse the details of the story and wonder: What does it mean to us, here, in Manhattan Beach?

Before we jump into the weeds of that case, let's jump to a couple of conclusions:

1) Lots of transactions are going to become more complicated, with stilted, extra CYA disclosure documents and other sober, formal-sounding statements larded on top of all those that we already see in a typical home sale.

2) Some sellers may believe that their best interests are served by working with smaller brokerages, where the potential risks coming out of the new…

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