So here we are in the middle of 2008 already. The word on the street is that we are winding down to the end of what may have been a recession. To be honest with you, it may have slowed a bit but it is still very steady here in the beach cities. If property is priced correctly, it will sell. Unlike the Inland Empire or the Desert where no matter the price, no sale. Here, we have seen a very steady smooth moving market. Of course some of the primo properties still get big prices and in some cases, multiple offers.
117 7th Street in Manhattan Beach was listed for 3,995,000. It fetched around 5 offers and sold over 4 million. The actual sale price is not posted yet since it is still in escrow. 900 Pacific, the all time highest hill section property, listed at 10,900,000 just went into escrow today.
Over the weekend several tree section homes have sold. Sand section properties are also moving quickly. Even our friends in east Manhattan are seeing movement over there. Lately there is a nice demand for 50 x 150 foot lots with nice house and pools. Pools are back in. Families are enjoying the convenience of a pool for their kids rather than packing up and hitting the beach every weekend. Two weeks ago there was a listing priced very aggressively in east Manhattan with a pool. It had 13 offers and sold over asking. These properties are not anomalies because there are more than just the few I’m speaking about.
Ask around, talk with your Realtor, ask your friends. Its exciting out there.
Did I mention Hermosa? Sweet Hermosa is also moving right along.
and of course Redondo is doing fine again too! There has been numerous sales in the golden triangle of Redondo Beach in the last couple of weeks.

So, as you can see from my little report here, that the beach is the place to buy real estate and now if a great time to be a buyer since you can get a little better deal.
If you like to know more details of the market, don’t hesitate to call me or Dan.