overbids

Found 41 blog entries about overbids.

Neighbor fights can become nasty. The sale of a couple plots of land needs not get too rough, though.

Two next-door neighbors in Manhattan Beach's Hill Section were on the market side-by-side for a time there, with a victor now emerging.

500 Pacific Avenue Manhattan Beach CAOne took the approach of overpricing and trying to make the market come to them.

That was 500 Pacific. It's a big Hill Section corner lot (11,400 sqft.) with views over wide 5th St. and over homes to the southwest.

From the top rear corner of this lot, a new home should have views of greenbelt treetops, Sand Section rooftops, the Palos Verdes Peninsula and a goodly line of blue from the Pacific.

What a commodity! A big parcel of scarce land in a prestige location with views!

In October, they listed at

People want to see signs... omens... hints of what is to come.

There are no guarantees of future performance this year, but look at some deals made in the first 5 weeks of 2016:

611 Bayview Drive Manhattan Beach CA611 Bayview (3br/4ba, 2720 sqft.) is a slick, modern and nearly new view townhouse near town but on the quiet alley street just up off of Manahattan Ave.

Purchased new for $3.250M in January 2014, this one was quite nearly the first Manhattan Beach Sand Section townhome to ever garner more than $3M. (Off The Strand, that is, to be clear.)

But that was so, so long ago... two years.

Listed for $4.650M this year, this market maker is doing it again – getting an offer within 9 days.

That $1.4M markup is +43% over 24 months. In retrospect, maybe they got a deal on the…

Take a half lot in sight of downtown and featuring plenty of traffic... what's that worth?

In the case of 209 15th Street Manhattan Beach CA209 15th, the answer is $2.401M.

That's a $102K overbid over the list price of $2.299M.

We went looking for comps. Uh-oh, the market seems to have found a way to carve out a new category-specific high with this sale. 

Half lot, west of Highland: $2.4M.

The smallish, 2-story house here (3br/2ba, 1275) is dated and you have to say the bulk of the value is in the land, all 1345 sqft. of that plot.

We can't find a like sale that's even close. $1.7? $1.9? $2.1? Nothing.

There is one very big number from last year that arguably beats the sale at 209 15th: 2401 Manhattan Ave. has a walkstreet frontage and the feel of a 100-block house,

Prime lots in the Tree Section have been hitting $2M and a touch above.

It was only a matter of time before the American Martyrs area asserted itself (again) with an even higher high.

608 14th Street Manhattan Beach CANow the sale of 608 14th has done exactly that.

The dated, 4br, 3000-ish sqft. house is fine, but it's the 5800 sqft. plot of land that's got the real value here.

Specifically, the market said: $2.950M. The sale closed this week.

Call it the American Martyrs neighborhood's first $3-million-dollar lot.

As the listing launched 5 weeks ago in June, they weren't necessarily pushing the ceiling too high. The asking price was $2.7M.

But competition and must-have properties means new, ever-higher prices must be paid.

We can't really find anything like 608…

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