Tuesday, September 29, 2015

Los Angeles Real Estate Prices | Recent Report Says Not A Bubble

If you own a home in the South Bay of Los Angeles you have to love the price appreciation you have seen over the past 2-3 years. In fact, single family houses in some  neighborhoods have seen price increases of over 30% over the last 18 months with condo and townhouse prices not far behind.

Well what if I told you there is more to come and the party won't be over anytime soon? Better yet, what if someone a lot smarter than me said it?

Here's some quotes from a recent report I read:

Saturday, September 26, 2015

Are You Buying A Home? Follow these Tips

We’ve been in an unprecedented Seller’s Market for the last few years in many neighborhoods in Los Angeles County.

Many properties in Redondo Beach, Manhattan Beach, and Hermosa Beach (collectively the “Beach Cities”) are receiving multiple offers, often very quickly and over the asking price. In fact, depending on the specific price range and neighborhood upwards of 50% and in some instances as high as 70% of the properties that sell in the first 30 days do so at or over the asking price. I repeatedly see Buyers, both my clients and others I meet at my listings, repeatedly making some variations of the same 3 basic mistakes. Here’s what you should do and not do in today’s market as a buyer.

Friday, September 18, 2015

New Listing North Torrance Single Family House for Sale

So, is North Torrance 90504 becoming the new North Redondo Beach?

Quite possibly and here's why.

You can still buy a great SFR in North Torrance for less than most Redondo Beach townhomes and buyers want SFRs.

Here's the info on my new listing at 3755 West 175th St.

"Move right in to this large remodeled 3 bedroom, 2 bath single family house with A/C located on a quiet tree lined Torrance street near McMaster Park. This South Bay beauty features an open floor plan and lots of natural light. In addition to the ample living room there is a large family room with French doors leading to the private backyard featuring both grass and some cement areas for your barbecue and entertaining. This 1524 SqFt home has beautiful hardwood floors throughout, oversized master bedroom that's large enough for your king bed, and a huge whirlpool tub and separate shower in the en suite master bath. Conveniently located near schools, library, parks, restaurants, Starbucks, movie theaters, the Galleria mall and about 5 miles to the beach. Enjoy the best of the South Bay at a great price. Put it on your list to see - it will be your best move!"

Check out the property website and 3D Virtual Tour at 3755W175th.com.

Check out the 3D tour - amazing!

Friday, September 4, 2015

Top Real Estate Agents and Brokers | Redondo, Manhattan, Hermosa Beach CA

Ellis Posner Sells Redondo and Hermosa Beach CA Real Estate

So what differentiates a Realtor from others and makes them a top agent in their area? Certainly local market knowledge as evidenced by sales counts. As does length of time in the business and any reviews found on either sites such as Yelp, Zillow, or Trulia.

I was a little curious how the Zillow acquisition of Trulia would affect their ratings for Real Estate Agents and Brokers since they each use a somewhat different criteria and methodology. As it turns out, personally it has been better for me. Well sort of, anyway. Zillow rates Realtors in a number of different categories such as most active (I was number one and still am), most recent sales (I dropped a few notches) and best local reviews (number one and crushing the competition). They also rate for most active listings which in this marker may be a negative indicator as it means your listings are overpriced, lol.

Trulia's methodology is based more on who has dome the most sales in Redondo Beach. So someone who maybe had a lot of sales 5 years ago but nothing recently may appear higher ranked than someone who has more recent and relevant experience.

Truthfully, the best algorithm might be to weigh total sales vs recent sales. We'll see if they go to that at some point. Believe it or not, they seem to have very accurately and correctly consolidated all the reviews without either dropping any or duplicating any. Good IT work - better than some IT companies I've worked with.

In any case, I am very pleased to have retained my top billing. The map at the top shows some, but not all of my recent Redondo Beach (and Hermosa Beach too actually) sales.

Wednesday, September 2, 2015

Staged Homes Sell for Higher Prices

Most people understand that good “curb appeal” is important in getting top dollar for a home. After all, you never get a second chance to make a good first impression. Equally important is how the home appears on the inside. The process is essentially to “deconstruct” your home as you live in it and then “reconstruct” it to be ready for sale. 

The first step is to get a head start on packing by reducing clutter throughout the house. This means clearing excessive papers and books on shelves and desktops, and minimizing overcrowding on countertops in kitchens and bathrooms. Next, determine if you need to reduce the amount of furniture you’ll keep in the house. The more cluttered the home appears, the more cramped it will feel to buyers. The garage is a good place to store things while the home is on the market.

Now, you’re ready to do a thorough, deep cleaning of the home. Think of this as the Spring Cleaning effort of a lifetime. The goal is to clean the home such that it looks like a model home.

Finally, you’ll “reconstruct” the home so that it is easy to show, and such that each room is visually appealing. This may mean organizing existing furniture, or bringing new furniture and decorations into the home. Often, a staging specialist can help organize existing furniture or furnish the entire home. Call me today for a professional opinion on how to get your home ready for the market including the benefits of staging.

Visit freestagingoffer.com for my latest great deal for Hermosa Beach Home Sellers.
Here’s some other articles about staging I recently wrote.

Golden Hills Contemporary House for Sale in Redondo Beach CA 90278

Open and Bright Living Room
So you're probably thinking this is the part where I gush about how we don't have enough contemporary and modern construction in the South Bay and we need more steel and glass and less Spanish, Mediterranean, and stucco. Exactly right so I'll spare you the usual rant and move right on to a new listing I saw that I was very excited about.

If you've been out and about in the Redondo Beach Golden Hills recently, you may have seen these twin contemporary Tall & Skinnies being built in a great location on Stanford (1500 block). Actually the exact address is 1504 Stanford Ave.

The builder says these are 2200 SqFt but they feel larger to me. Possibly its the 2 floor ceilings in the living room, or the third floor loft with roof deck, or all the windows and light but these houses just felt large.

Unlike some other recent attempts I've seen at this style, these two just totally nail it with everything done right. There may be a question as to how well this ages, so we'll have to wait and see on that front. Other than that, I thought very reasonably priced at $1.425M.

Here's some more pics.

Saturday, August 15, 2015

New Construction Homes for Sale Hermosa Beach CA 90254

As the real estate market continues to strengthen, we seen a spike in new construction homes for sale at the beach. This sand section property has been listed by Keller Williams for $5,750,000.

801 Hermosa Ave: The Lighthouse on 8th. Unpack your California dreams in this magnificent, landmark residence on a south-facing, corner walk street lot, just steps from the beach and Hermosa’s vibrant downtown.Masterful Cape Cod architecture sets off a stunning Lighthouse design element that melds interior and exterior areas into an immaculate home for the active, luxurious beach lifestyle. Renowned architect David Watson collaborated with designer Alison Shoemaker, and in drawing inspiration from the great estates of Nantucket and Cape Cod, the design team and master craftsmen have created a superlative, expansive and Smart Home with the highest quality fixtures and finishes throughout. In addition to the unique and functional Lighthouse the home features 4 bedrooms, all en suite, 5 baths, 2 powder rooms, 7 outdoor patios, including a huge roof-top deck with 360-degree views, 10’ ceilings, full-sized fireplace, a stunning three story entrance, open concept Family room, extensive custom cabinetry, hardwood flooring throughout, sophisticated home automation, state of the art heating and cooling, a media- game room, and top line appliances in an impeccable 4,000+SqFt Entertain year-round with the amenities, panoramic views and conveniences of fabulous Hermosa Beach.

Here's some other articles about new construction in the South Bay:

Sunday, August 2, 2015

Golden Hills Redondo Beach Home Prices on the Rise | Seller's Market

Redondo Beach Golden Hills Home Prices have increased

Redondo Beach Real Estate has seen substantial price acceleration over the past 18 months and many homes are now selling at or even above previous market highs. One of the neighborhoods experiencing the largest price gains in the Redondo Beach Golden Hills (designated as MLS Area 154 to Realtors). Appraisers are struggling to keep up with what appears to be new highs every week.

Follow this link for an instant automated valuation for your home!

The graph above captures data for the standard 3 bedroom Tall and Skinny on a 2500 SqFt lot. Within that segment there are obvious variations based on age, updates and whether the property has 2 or 2.5 baths (even though I am seeing 2 bathroom floorplans often selling at similar prices to 2.5). Homes on larger lots or some of the 3 story over 2000 SqFt properties have different pricing models.

If you are selling a home in the Golden Hills, currently the "Gold Standard" (no pun intended, lol) is to price right at or slightly below the market in order to get multiple offers over the asking price.

That's how I recently marketed my listing at 1719 Dixon St.

Golden Hills Tall and Skinny sold for over list price
This property received a ton of activity, multiple offers, and was quickly in escrow and sold for $81,000 over the asking price.

Here's some other Golden Hills data you might find useful.

Sunday, July 26, 2015

Redondo Beach CA Real Estate for Sale | LA Times Home of the Week

Listed for Sale in Redondo Beach CA by Ellis Posner - Teles Properties

I am a huge fan of modern, contemporary, steel and glass architectural homes. And we certainly do not see enough of them in the South Bay Beach Cities and Redondo Beach. Well that might be changing somewhat as more and more buyers gravitate from out of state and LA Westside to the South Bay.

I was very excited about the opportunity to list this extremely unique property which is one of the largest homes built at the beach and one of the most unique. My marketing plan always included PR and media coverage and I was very proud when the LA Times selected this home to be the "Home of the Week" in the July 19th online and print editions.

Here's some more:

Sunday, May 31, 2015

North Redondo Beach Townhomes for Sale

Redondo Beach Townhouse for Sale 2419 Grant Ave Unit A

I just listed two 3 on a lot townhomes in North Redondo Beach CA and they are a good example of what I always advise my clients re price and presentation.

2419 Grant Ave Unit A (pictured above) shows well and is priced to sell, most likely above the asking price of $739,000. I sold the rear unit, 2419 Grant Unit C for $765K and 2417 Grant Ave B for $725K. Other "A" Units on Grant that are about the same age or remodeled have been listed for $749,000-$799,000 and are in escrow. I've shown it a few time and have had very positive feedback. First Open House Sat-Sun May 30-31 from 1-4 PM.

Here's the MLS description: