You probably know that short-term rentals have been effectively banned in Manhattan Beach.
But what about short-term ownership? Not regulated yet.
Some recent listings have come to market after being acquired not-so-very-long-ago. You have to wonder: What changed? (We don't make it this blog's business to dive into the personal stories, even when we do hear.)
A recent closed sale at 1313 Pine (pictured) was a moderate success story. The 5br/4ba, 3260 sqft. home was purchased early last year while it was being framed out as a spec home. The buyer just couldn't let it go to someone else, so they paid $3.290M in Jan. 2015.
This year, they offered it back on the public market for $3.499M, but found that the market wasn't quite there.
The sale at $3.345M…