Coastal Elegance at 516 4th Street in Manhattan Beach

By Keith Kyle516 4th Street Manhattan Beach

One of the homes currently on the market (as of July 8th, 2016) that we really like is located at 516 4th Street in the Manhattan Beach sand section.  While not on a walkstreet the home sits on a quiet street and has the look and feel of a walkstreet location.  The home offers a coastal plantation style with a large front yard and patio offering a great mix of indoor/outdoor living.

We're sorry, but we couldn't find MLS # SB16089792 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Big Jump In Manhattan Beach Homes for Sale in March

By Keith Kyle

March 2016 saw a pretty significant increase in the number of active homes for sale in Manhattan Beach.  Whereas the prior 18 months had seen a high water mark of 77 homes for sale and had hovered between 50 and 70, the number of homes on the market took a fairly drastic upturn in March with over 100 homes active on the market.  As of this writing in late April, that number didn’t show signs of changing as there are currently 101 homes, townhomes and condos for sale in this coastal community.

Why You May Not Want to Get Overly Excited About That Manhattan Beach Foreclosure

By Keith Kyle1410 Ardmore Manhattan Beach

Manhattan Beach is a tough market to buy a home in.  In a town where starter homes start in the $1.5M range and builders are buying everything they can get their hands on, you can’t blame buyers for getting a bit excited about that rare foreclosure “opportunity”.  The problem is that the market usually determines what something is worth and in this town, true below market “opportunities” are rare.

The home at 1410 Ardmore, located right near downtown Manhattan,  certainly is a good example of something that’s too good to be true.  Originally listed at $800,000 in early December, this was never a realistic price as it was more than 50% of what it should have been listed.  Unfortunately buyers often think that because it’s a short sale, they just may get it at that price.  In this case, it certainly didn’t take long for them to get an avalanche of offers and on January 6th the home not only went pending, but the price changed from $800,000 to $1,800,000.  That’s a 125% price increase.

While there were endless buyers thinking they might just get the deal of the century, eventually the market dictates what homes are actually worth.

That doesn’t mean that great deals aren’t occasionally out there, but if it seems too good to be true….it is.

 Price: $1,800,000      Original Price $800,000

BED / BATH:   4/3,0,0,0
SQFT(src):   1,605 (A)
PRICE PER SQFT:   $1,121.50
LOT(src):   0.093/4,068 (A)
GARAGE:  /Attached
YEAR BLT(src):  1958
SUB TYPE:   SFR
SALE TYPE:  Short Pay 

 

 

 

Only 25 Homes for Sale in All of Manhattan Beach

While the market is always slow over the holidays and homeowners often take their homes off of the market for a few weeks, the inventory in 1740 2ndManhattan Beach has reached a new low.  As of January 5th there are only 28 homes for sale in all of Manhattan Beach.

Compare that with a high of 189 homes for sale in May of 2010 and you can see just how drastic the market changes have been.  Even the summer months (with traditionally the highest inventory as it’s a peak buying season) had 68 homes for sale during the months of July and August.

So what does this mean?…..well that depends on which side of the market you’re on

For sellers the demand is incredible.  Prices are at peak levels, sellers are receiving multiple offers on homes priced at market value, buyers are willing to overlook the usual challenges such as busy streets, homes needing updates, and homes with ideal locations or potential are having some amazing bidding wars.  See our recent post on the walkstreet, half lot home that sold for almost $600K over list price.  If homeowners have given any thought to selling their home, regardless of area, condition and location, it’s an ideal time to sell.

For buyers the market has been incredibly challenging with some buyers simply taking a break from the madness. Builders are buying any home in Manhattan Beach that hasn’t been built in the past 25 years at big numbers, buyers are lined up in certain neighborhoods waiting for the next listing to hit the market (if the home even hits the market as pocket listings are becoming more common in this market) and entry level homes no longer exist.

In this market buyers have to be aggressive if they really want to own a home in Manhattan and need to be even more aggressive for premier properties.  Knowing about homes the minute they hit the market, or even before is critical and understanding pricing can make all the difference.

Contact us if you are an eager seller, or frustrated buyer, as we have a deep understanding of the market and can certainly help.

If 90% of Homebuyers Start Their Search Online…..

…Shouldn’t you work with a realtor that’s tech savvy?4020 Bluff Pl - Home-From-Patio

With the internet and social media becoming an ever larger presence in real estate, it seems critical that home sellers would use agents that know how to reach those buyers and specialize in marketing homes online.  Strangely enough that’s often not the case and many Manhattan Beach home sellers work with agents that no little, to nothing, about the power of online marketing.  The local audience and MLS are obviously great ways to market a home, but to reach national and international buyers, it takes a bit more effort and a great deal of expertise.  The difference can mean significant amount of interest and that can lead to a significant amount of money.  Before sellers hire a realtor they should make sure that they know the intricacies of the local market, are well connected, and have a top notch marketing strategy that not only uses, but embraces technology.

1740 2nd Street – New Home for Sale in East Manhattan Beach

East Manhattan is known for large homes and large lots, which allow for some creative and inspired designs.  The home at 1740 2nd Street has 1740 2ndtaken full advantage of the 5300 foot lot with an impressive 6 bedrooms and over 4000 square feet of living space.  As with all homes in the city, one of the major appeals is the fantastic Manhattan Beach Unified School district.  The home was built in 2005.  Located on 2nd St, a moderately busy street, the home is at the high end of the market for the location, but for those looking for a sizable home with a fairly new construction feel in a family friendly location, this might be the home for you.  Contact us for more information or call text at 310-251-2344 and we’ll be happy to help.

ML#:   SR14233907 
List Price:    $2,300,000
Price Per Sqft:    $573.28  
Bedrooms:  6
Baths: 5
Property Type:   Single Family 
Sqft (Src):  4,012 (Assessor’s Data) 
Lot Size  5300

We're sorry, but we couldn't find MLS # SR14233907 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

It’s Not Hard To See Why Builders Are Buying Everything in Manhattan Beach

Whenever the real estate market is on fire, as it is right now in Manhattan Beach, the demand for luxury homes intensifies and builders are happy to take advantage of this dramatic increase in demand…..and why wouldn’t they?

It’s not hard to see why builders are scrambling to buy any fixer, tear down, or even the charming, but smaller, beach bungalow.  We’re seeing prices of new construction reach heights that would have seemed impossible not long ago and the usual constraints such as smaller lots, less than ideal locations, and even lot prices well beyond lot values don’t seem to matter.

Let’s look at a few recent properties:

750 30th Street in the Tree Section

750 30th Old 750 30th

 

Sold December 2013 (above left 1952 1138 ft bungalow on 5417 foot lot) at $1,552,000 and recently listed (above right 5 bed/5 bath 5000 sq feet) at $4,499,000

 

1905 Elm in the Tree Section 

1905-Elm-Old 1905 Elm New

Sold in May of 2013 (above left – 1952 beach bungalow) for $1,131,000 and currently in escrow (above right – 5 bed/5 bath 3111 square feet) with list price of $3,100,000

 

128 14th Street in the sand section  

128 14th Street -  2012 128 14th Street

Sold in April 2012 (1954 built triplex) for $1,950,000 and currently in escrow (4 bed/5 bath 4000 feet) with list price of $5,995,800.

 

433 Marine Place in the Sand Section

433 Marine Place Old 433 Marine Place New 432 23rd place

Very poor condition home at 433 Marine Place sold for $957,000 in March 2012.  Home was torn down with 2 new townhomes put on the lot.  Townhome at 433 Marine Place (3 bed/4 bath 2000 square feet) selling at $1,979,000….while second townhome at 432 23rd Street (3 bed/4 bath 1929 square feet) sold for $2,152,000

There are countless other recent sales and a number of new construction projects coming on the market in the next few months.

Call/text us at 310-251-2344 for more information or contact us with any questions.

 

1643 Ford – Golden Hills Home For Sale in Redondo Beach

Welcome home to this wonderfully remodeled single family home in the Golden Hills of Redondo Beach. This beautiful home boasts a great split level floorplan that offers all three bedrooms on the same floor and a spacious and stylish interior. Features include a gorgeous kitchen with stainless steel appliances, granite counter tops, pendant lighting and an abundance of natural light. Custom paint and dramatic dark hardwood floors extend throughout the home giving the home a true designer feel. Beautiful master suite offers large customized closets, gleaming hardwood floors, newer doors and windows and a beautifully remodeled bath. The 2nd and 3rd bedrooms share another stylishly remodeled bathroom with custom tile and stone shower. Bedrooms are west facing and offer great natural light and sit high above the neighboring home to take full advantage of the coastal breezes. Spacious one car garage has a laundry area, direct access to the home, and a full size access door to the seemingly endless storage space underneath. In addition the ample street parking is a rare find in the Golden Hills! Just a few blocks from both Hermosa and Manhattan Beach this home is the perfect starter home in a fantastic neighborhood.  Contact listing agent Keith Kyle for more information.  1643 Ford Ave, Golden Hills, Redondo Beach.

The Luxury Market in Manhattan Beach is alive and well – 40 Homes Listed at Over $2.0M

By Keith Kyleinterior courtyard

The market in Manhattan Beach continues to be dominated by luxury homes an ever increasing median home prices.  Of the current 68 homes active on the Manhattan Beach MLS, 40 of them are priced at $2,000,000 or higher.   Only 7 of the 68 are priced below $1.0M which makes Manhattan Beach one of the pricier neighborhoods in Southern California.  Over the last 18 months we’ve seen an incredible influx of cash and high net worth buyers enter the market and prices have been driven up quickly.

Current Luxury Homes and Land for Sale in Manhattan Beach

  1. 4 beds, 4 baths
    Home size: 3,412 sq ft
    Lot size: 4,791 sqft
    Year built: 1989
    Days on market: 1
  2. 5 beds, 4 baths
    Home size: 4,200 sq ft
    Lot size: 3,484 sqft
    Year built: 1991
    Days on market: 4
  3. 5 beds, 5 baths
    Home size: 3,199 sq ft
    Lot size: 4,356 sqft
    Year built: 2011
    Days on market: 7
  4. 4 beds, 3 baths
    Home size: 2,578 sq ft
    Lot size: 5,227 sqft
    Year built: 1963
    Days on market: 7
  5. 3 beds, 4 baths
    Home size: 2,093 sq ft
    Lot size: 1,306 sqft
    Year built: 1972
    Days on market: 9
  6. 4 beds, 3 baths
    Home size: 3,534 sq ft
    Lot size: 5,227 sqft
    Year built: 1990
    Days on market: 12
  7. 5 beds, 3 baths
    Home size: 2,601 sq ft
    Lot size: 4,791 sqft
    Year built: 1953
    Days on market: 13
  8. 5 beds, 5 baths
    Home size: 3,714 sq ft
    Lot size: 5,227 sqft
    Year built: 2015
    Days on market: 14
  9. 5 beds, 4 baths
    Lot size: 4,356 sqft
    Year built: 0
    Days on market: 16
  10. 5 beds, 7 baths
    Home size: 4,840 sq ft
    Lot size: 4,791 sqft
    Year built: 2017
    Days on market: 20

See all Real estate in the city of Manhattan Beach.
(all data current as of 8/16/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

5 Oceanfront Homes for Sale in Manhattan Beach

By Keith KyleManhattan Beach Strand

It’s rare to see more than one oceanfront home on the market in Manhattan Beach at the same time, but as of August 15th there are 5 homes for sale. They range from a townhome at 4404 The Strand priced at just under $6.0M to 2 different homes (one at 104 The Strand the other at 1140 The Strand) that are both priced just under $14.0M. Believe it or not the home at 104 is actually a tear down. Ironically in our eyes, this listing states “Price includes plans for a mega multi million dollar contemporary estate.” If you ask us…..$13.9M sounds like it’s already in the multi million range.

The latest offering is located at 516 The Strand, which is a fairly prime south sand section location. It features 4 bedrooms and 4 baths and is priced at $10,000,000. That certainly seems above value to us, but as these are such premium locations it only take one buyer to fall in love. As most oceanfront purchases these days seem to be all cash, appraisal value rarely comes into play.

Current Beachfront Homes for Sale on The Strand