All Blog Entries by Dave Fratello

Found 2,697 blog entries published by Dave Fratello.

108 The Strand Manhattan Beach CAThey have finally sold the huge listing at 108 The Strand.

It's hard to properly count the Days on Market for this listing, but we definitely first saw this one in February 2016, asking $19.985M.

It didn't sell after the first 6 months, and the sellers must have had a version of this thought:

This isn't working. We need to find some kind of celebrity to help us.

Before long, 108 The Strand had switched from a local broker in Manhattan Beach to a TV reality-show broker.

108 The Strand Manhattan Beach CAA reality show. For reals.

That was way back in September 2016.

After that, they waited.

And waited.

Take a moment to think about how the world has changed since September 2016.

108 The Strand Manhattan Beach CAThere have been 6 separate listings of the property by the same reality-show folks

It's fun to approach year end, both for the usual reasons (family, presents, goodwill toward men, etc.) and because it means we're going to have more data soon.

Year end means the close of a month, a quarter, a year. We'll put 2018 in a box and start analyzing the data that this year gave us.

But first, since the year ain't over yet, we will look for hints in partial data.

That worry we've all had about the market slowing down? It's showing up in the data.

We ran the numbers on newly pending sales (new escrows/new contracts) for the 4th quarters of recent years.

2018 is lagging.

With 10 of the 12 weeks of the 4th quarter complete, 2018 has seen 49 new escrows open up.

Q4 2018 is short by 17 newly pending sales when compared to…

Santa is making his rounds around the neighborhood, the kids are facing finals and we've reached that stage of the holiday season where foreheads are being slapped by palms: "Wait, it's a week till Christmas?!? And I still have to..."

At this time of year, it ought to be quiet on the real estate front.

And it largely is quiet.

But 83 listings are still out there actively competing for buyers' attention. We were at 62 this time last year.

Of those, 28 will be holding open houses this weekend, but just one is new.

It's arguably the last weekend for open houses this year, though some stalwarts will try later in the month.

That one new listing this week: 1500 6th in East Manhattan.

We're also re-upping a couple of other favorites that are…

Manhattan Beach's flirtation with changing Sepulveda Blvd. to PCH has ended, for now.

After the issue was initiated by City Council, MBC hosted an online survey 3 months ago that quickly garnered more than 300 votes, with 60% supporting the change. (See our results here, and this post explaining the background to the proposal.)

The city's own online survey of residents, run for longer and by an actual city, got 537 responses, with 65% favoring the change.

So, of course, the City Council said "no, we're not doing it."

OK, it's not obvious why that would be the outcome. There's more to the story.

The city also surveyed businesses located on Sepulveda.

A whopping 13% of businesses surveyed replied. (Apparently, most of the businesses were

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