The South Bay Real Estate BlogRecently posted or modified blog posts in the category - Market Updatehttps://www.southbayresidential.com/blog/Copyright SouthBayResidential.com2024-03-21T17:30:14-07:00tag:southbayresidential.com,2012-09-20:329115 South Bay Real Estate Questions You’re Afraid to AskAre you considering buying or investing in real estate in the South Bay but hesitant to ask certain questions? Don't worry; you're not alone. In this Q&A-style blog post, we'll address seven common concerns about South Bay real estate with honesty and optimism.
1. Is the South Bay in a real estate bubble?
While it's natural to be wary of market fluctuations, the South Bay has shown remarkable resilience over the years. While prices may ebb and flow, the strong demand for housing, coupled with limited supply, suggests that the South Bay market is not experiencing a bubble. Historically, real estate in this area has proven to be a sound investment, offering long-term appreciation and stability.
2. Will houses in the South Bay foreclose soon?
Foreclosure rates in the <a href="https://www.southbayresidential.com/">South Bay</a> remain relatively low compared to other regions, thanks to robust economic growth and a diverse job market. While individual circumstances can vary, the overall outlook for homeownership in the South Bay is positive. Responsible lending practices and government intervention programs also contribute to minimizing foreclosure risks in the area.
3. Can I afford to live in the South Bay?
Affordability is a valid concern for many prospective homebuyers, but there are options available in the South Bay to suit a variety of budgets. While certain neighborhoods may command higher prices, there are also more affordable housing options, especially for first-time buyers or those willing to explore up-and-coming areas. Working with a knowledgeable real estate agent can help you find a property that fits your financial situation.
4. Is the South Bay overpopulated?
The South Bay's popularity is undeniable, attracting residents and visitors alike with its picturesque beaches, vibrant culture, and thriving economy. While some areas may experience congestion during peak times, overall, the South Bay strikes a balance between urban convenience and suburban charm. Plus, ongoing infrastructure improvements and smart growth initiatives aim to manage population growth effectively.
5. What South Bay neighborhoods should I avoid?
Every neighborhood in the South Bay offers its unique charm and appeal, but it's essential to research and explore different areas to find the best fit for your lifestyle and preferences. While certain neighborhoods may have reputations for higher crime rates or lower property values, these perceptions can evolve over time. Consult with a local real estate expert who can provide insights tailored to your specific needs and preferences.
If you have any other questions about real estate in the South Bay, don't hesitate to <a href="https://www.southbayresidential.com/contact/">reach out</a>. Our team is here to provide personalized guidance and support as you navigate the exciting journey of homeownership in this dynamic coastal region.2024-03-11T09:00:00-07:002024-03-21T17:30:14-07:00Greg Geilmantag:southbayresidential.com,2012-09-20:7547What's Going On With The South Bay Real Estate Market? <img src="https://assets.site-static.com/userfiles/1681/image/uploads/real_estate_market_update_-_cropped_500.jpg" alt="" width="500" height="293" class="img_box_center" />
If you've been keeping an eye on the South Bay real estate market, you may have noticed the recent housing frenzy with the passing of the Super Bowl.
As we came into the office on Monday, we noticed an increase in new houses being listed. Now we're not about to suggest that the Broncos loss is somehow correlated with people wanting to sell their homes (unless someone sees a connection we've missed!). But, we're starting to think that the Spring listing fever may have started early this year.
With the South Bay housing market taking an upswing compared to last year, it seems as though everyone is eager and ready to sell their home. As demand was at an all time high the past few months, inventory was dwindling, which increased interest and demand for our off market pocket listings. Our clients were excited about the properties we had that weren't on the market yet, which gave them exclusive opportunities to make offers on homes they fell in love with.
In the days preceding the Super Bowl, we've had over 25 new listings in Redondo Beach alone compared to about 12 the week prior. This doesn't mean that everyone is ready to sell their home and move to Seattle to rub elbows with the Seahawks. What it most likely means is like most real estate experts predicted, the South Bay market seems to finally be bending and complying with the increased demand. Check out the <a href="https://www.southbayresidential.com/property-search/search-form/" target="_blank">recent listings in the area</a> from the past week alone! <img src="https://assets.site-static.com/userfiles/1681/image/uploads/real_estate_market_update_-_opens_299.jpg" alt="" width="250" height="299" class="img_box_right" />
With the holiday season wrapped up and the anticipation of Spring and Summer ahead, home owners are eager to list their homes in order to take advantage of the multitude of buyers that are currently looking.
If you've been watching the South Bay real estate market, you may have also noticed how increasingly quickly homes are being snatched up. In Redondo Beach alone, there were 17 closed sales in the past 10 days. Exciting news for anyone that's listing their South Bay home for sale.
It seems as though with the increased inventory we may be entering into a buyer and sellers market. Higher inventory gives more opportunity to homebuyers while those that are selling their homes don't have to worry about whether there will be enough buyers interested in their property.
If you know anyone that has thought about selling their home, now might be the perfect time! Our selling experts can give them a no strings attached, complimentary assessment of what their home is worth. Feel free to pass along our number/email address for them to get in touch!
Contact us at (310) 853-3073 or <a href="mailto:info@southbayresidential.com">info@southbayresidential.com</a>2014-02-07T13:11:00-07:002020-05-05T11:23:08-07:00Greg Geilmantag:southbayresidential.com,2012-09-20:7532Finding the Right Horse Property in Palos Verdes<img src="https://assets.site-static.com/userfiles/1681/image/uploads/ranch_250.jpg" alt="Ranch" width="250" height="167" class="img_box_left" />Palos Verdes is a very happy place to live, especially for those searching for the right horse property. This area is full of great places for riding and you can even have that perfect place in your backyard. With many horse properties for sale in <a href="https://www.southbayresidential.com/palos-verdes-real-estate.php">Palos Verdes</a>, it won't be hard to find a great property to accommodate your needs.
This active horse community includes many pony camps, trail rides, show barns and so much more. The community is built for the equestrian life and provides plenty of happiness for horse lovers. A non-profit equestrian facility provides a great place for developmentally and physically challenged adults to enjoy equestrian therapy. This facility is called Ride to Fly.
Moving to the area means you can enjoy horses even more with plenty of pony camps fit for ages 3 to 12 and an environment perfect for education. Whether you choose the Seahorse stables, the Peter Weber Equestrian Center or the Palos Verdes stables, you'll find plenty of great programs for children and their horses.
Trainers are found throughout the area specializing in both Western and English disciplines. The youth junior drill team provides an excellent environment for children, and they have an adult drill team, as well, called The Happy Hoofers. These drill teams provide a place to show off your moves and they perform at many city events.
Throughout the year, many horse shows are held at Ernie Howlett Park and other public parks providing a great event for both riders and spectators. Since this area is such a small community, it's very friendly and those growing up here are deeply rooted in the equestrian environment.
Share greeting with neighbors on the trails, enjoy riding with other and have fun talking about horses every day in the Palos Verdes area.2013-11-01T10:00:00-07:002020-05-05T11:38:29-07:00Greg Geilmantag:southbayresidential.com,2012-09-20:7524Spotlight Builder: Matt Morris Development, INC.Not just a cookie cutter builder, Matt Morris Development (MMD) takes the time to get to know their clients before they create the home of their dreams. Matt Morris is the president of his company and he takes pride in providing full accessibility to his clients. With plenty of experience in the South Bay market, Morris provides something a bit different from the other builders in the area.
<a href="https://www.facebook.com/pages/Matt-Morris-Development/148324535210634" target="_blank">MMD</a> is a high-end builder of custom homes and helps those looking to invest in their dream home create the look, feel and home they deserve. Morris spent 15 years working as a Realtor in the area before starting his own company. His goal is to help any client looking to build a new home take their vision and bring it to life with a fully functional and beautiful home. Morris spent time with one of the biggest and best home developers in Texas before moving to Southern California. His experience and love for what he does has made him one of the top builders in the area.
Current Projects
MMD is currently working on a number of projects with even more in the works including:
112 17th Street - A 3 bedroom, 2 full and 2 half bath custom build for a repeat client
809 Highview - A 5 bedroom, 6 1/2 bathroom West Indies Island home
3216 The Strand - A 5 bedroom, 6 1/2 bathroom home measuring 7,500 square feet
3116 Hermosa Avenue - A 5,000 square foot home with panoramic ocean views
MMD specializes in the luxury home market and works closely with top architects to create custom homes for their clients. Most clients find Matt through word of mouth and have a sense of what they are looking for in the overall design and style.2013-08-14T12:51:00-07:002020-05-05T11:51:03-07:00Greg Geilmantag:southbayresidential.com,2012-09-20:7501Manhattan Village Shopping Center Enhancement ProjectManhattan Village Shopping Center located on Sepulveda Blvd, is a great place to shop to your hearts content and enjoy delicious restaurants. This premiere shopping center was last renovated in 2000, creating a new look of the interior. There are now plans to bring this shopping center up to date by creating a more efficient flow of the exterior.
With an expansion plan that has been in the works for many years, construction could start as early as January 2014. This Enhancement project will be in 3 stages and is planning to add over 120,000 sq ft of restaurants and retail spaces to be developed, with the addition of more parking spaces and multiple parking structures.
The goal of this project is to bring the Village shops areas together and connect a pedestrian promenade surrounding California Pizza Kitchen. Some of our favorite stores will be torn down, including Coffee Bean and See's Candy, but there are hopes for these stores to be relocated. This will make Manhattan Village Shopping Center more pedestrian friendly which will create better traffic flow and a more efficient use of space.
<img src="https://assets.site-static.com/userfiles/1681/image/uploads/manhattan_village_walkway_417.jpg" alt="" width="417" height="261" class="img_box_center" />
The Pacific theatre building will be demolished since its closing in May 2012, which will possibly add 50,000 sq ft to the North side of the Macy's store. The expansion of the Macy's store is not a sure thing as of yet, the store may choose to not expand. This space also has hopes for a two level parking structure partially underground.
Fry's electronics lease ends in 2016 and is scheduled for demolition when the lease is up. With the freestanding building demolished, this space will be entirely remodled. There is hopes that this corner lot will help create more room more retail space and link the parking throughout the Villlage.
One of the main purposes of the project, is to integrate new buildings within the Shopping Center. There are a of number of tenants who would like their stores located at the Manhattan Village, but as of now, there is no room available for them.
This expansion will give stores a chance for growth. For instance, the Apple Store alone generates the same amount of sales tax revenue for the city as that of a small car dealership, said Finance Director Bruce Moe. This will give the Apple store a great opportunity to expand.
These proposed plans have resulted in a huge amount of review ranging from traffic circulation, added noise, structural heights, and other concerns. This construction project has taken into account the neighbors of Manhattan Village and surrounding areas allowing the community to comment and offer suggestions. There will be a Planning Commission in February 2013 giving public notice of some of the structural silhouettes.
Stay tuned for more information regarding these developments and if you have any comments or suggestions, feel free to submit those comments to the City's Planning Manager Laurie Jester ? City of Manhattan Beach, CA 90266. She can be reached via email at ljester@citymb.info and by fax at (310) 802-5501.
<img src="https://assets.site-static.com/userfiles/1681/image/uploads/manhattan_village_proposed_map_417.jpg" alt="" width="417" height="270" class="img_box_center" /><br /><br />Related Links
<a href="https://www.southbayresidential.com/manhattan-beach-real-estate.php" target="_blank">Manhattan Beach Real Estate</a>
2013-02-19T23:39:00-07:002022-09-03T07:08:41-07:00Greg Geilmantag:southbayresidential.com,2012-09-20:7493The Queen's Necklace View and Other Amazing Southern California Ocean ViewsIf you are in the <a href="https://www.southbayresidential.com/palos-verdes-real-estate/">Palos Verdes</a>, the <a href="https://www.southbayresidential.com/hollywood-riviera-homes-for-sale/">Hollywood Riviera</a> or the surrounding hills that are behind it, as night starts to fall on days with clear visibility you can take in a breathtaking site of the entire Santa Monica Bay. The lights from the homes and buildings sparkle like the royal jewels on a "queen's necklace" giving the pristine view its name. For those with <a href="https://www.southbayresidential.com/redondo-beach-luxury-homes.php">luxury homes</a> in the area that can take in this view, it is a sight to behold. You can see from the lighthouse at San Vicente to the Santa Monica Pier. In a word, it is spectacular.
<img src="https://assets.site-static.com/userfiles/1681/image/uploads/queensnecklace_750.jpg" alt="" width="435" height="288" class="img_box_center" />
If you've ever struggled with what to do in Southern California, know that enchanting views like these offer peace and relaxation at the end of a busy day. They create an unbelievable backdrop for dinner parties, socializing with friends or having a quiet conversation with someone special. They are a luxury beyond words that is truly unique and special.
Those views also <a href="https://www.southbayresidential.com/blog/selling-your-home-four-painting-ideas-to-help-add-value-and-appeal/">add greatly to the value</a> of a home. While homes in the area already reflect that you are along the beach and living in a really desirable climate, having this spectacular view definitely adds to the home's value on the market. On our website, you can see that reflected in the prices of <a href="https://www.southbayresidential.com/palos-verdes-real-estate/">homes in Palos Verdes</a>, <a href="https://www.southbayresidential.com/redondo-beach-real-estate.php">Redondo Beach</a> and the surrounding area versus homes that don't have the stunning view.
While the Queen's Necklace view is spectacular, especially in the evening, there are other Central and Southern California coastal views which are equally stunning. There may possibly not be a bigger view anywhere in San Diego County than the sites of <a title="Cielo in Rancho Santa Fe" href="https://www.sandiegohomefinder.com/rancho-santa-fe-homes-for-sale/" target="_blank">Cielo in Rancho Santa Fe</a>. In fact, Cielo is Spanish for sky and it truly seems like you are viewing the world from an airplane when you are there. With good visibility you can see white water ocean views to the west and snow capped mountains to the east. This is a must see in Southern California.
<img src="https://assets.site-static.com/userfiles/1681/image/uploads/cielo-rancho-santa-fe_380.jpg" alt="" width="380" height="300" class="img_box_center" />
For those who can afford it, coastal views like this are priceless. They offer lasting value both in terms of real estate but especially in terms of lifestyle. There are only so many sunsets in life. There are only so many mornings to open the windows and take in the view. There are only so many nights to take in the sparkle and brilliance of the Queen's necklace view. While there is a price to be paid for it, it is most definitely worth it.
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2012-06-27T16:04:00-07:002023-11-26T12:01:07-07:00Greg Geilmantag:southbayresidential.com,2012-09-20:7494Are Multiple Offers Coming Back?<img src="https://assets.site-static.com/userfiles/1681/image/uploads/competition_290_01.jpg" alt="Multiple Offers" width="213" height="150" class="img_box_left" />"Wait, I thought this was a buyers market!" We've heard this a lot lately. If you're shopping for a home locally, you should know that real estate in the South Bay has been had a surprisingly high number of multiple offer situations lately. It seems like every other home has people competing for it. The basic law of supply and demand could be the culprit. Since the beginning of 2012, near 50% of all <a title="Manhattan Beach Homes" href="https://www.southbayresidential.com/manhattan-beach-real-estate/">Manhattan Beach homes</a> for sale have experienced more than one offer. We know of a property that recently had over 29 offers before it finally went under contract.
The fact is that home prices in the Beach Cities are still well below where they were 5 years ago. Although it's technically a "buyer's market," low inventory, relatively low prices and extremely low interest rates are making buyers very anxious to get in the market. There are more people competing against fewer homes (a la 2005).<img src="https://assets.site-static.com/userfiles/1681/image/uploads/manhattan-beach-strand-properties_640.jpg" alt="" width="210" height="139" class="img_box_right" />
Winning In A Multiple Offer Situation
The way to win out in a multiple offer market is to have a great team behind you to guide you through the emotional process of real estate negotiations. Have all your ducks in a row. Be prepared to put your best foot forward if you're buying a house that is well-priced and is in a desirable location. When sellers have multiple offers to choose from, they consider a stronger downpayment over a weeker one (especailly an all-cash offer). They consider a more attractive length of escrow based on their circumstances. They may consider the reputation of the agent representing the buyers. And often most importantly, they consider a higher price. Many <a title="Redondo Beach Homes" href="https://www.southbayresidential.com/redondo-beach-real-estate/">Redondo Beach homes</a> are selling over asking price lately. One Redondo Beach home for sale recently had 6 offers on it and sold for 8% over the list price. Also, many buyers have all-cash, which is hard to compete with.
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2012-06-21T17:45:00-07:002022-09-03T07:06:01-07:00Greg Geilman