Manhattan Beach Pendings or Solds:
(This is a general list with not a ton of details, information deemed reliable but not guaranteed)

88 Manhattan Ave.: Town Home, once listed for 1849,000 sold off market at a new asking price of 1,925,000
2101 Walnut Ave:, Large SFR, Cap-cod tried to sell off market last year for 2,100,000…now in escrow off market with new listed price of 2,199,000 with multiple offers.
766 33rd: was listed 11/2011 for 2,499,000 currently in escrow after being re-listed 2/2012.
1022 1st st.: 10/2011 re-listed in 1/2012 sold in less than a week.
230 Anderson: for sale all of 2011, was re-listed in early 2012 at a reduced price of 3,999,000 now pending.
3315 Alma: was listed 10/2011 for 2,299,000. Re-listed 2/2012 for 2,199,000 and is currently in escrow.
2808 Elm Ave.: was listed last year at 1,999,000 could not sell, re-listed this year at 2,199,000 and is currently in escrow.
864 9th st.: was listed 11/2010, re-listed in 3/2012 2,849,000 sold for multiple offers, currently in escrow.
1535 Ruhland Ave.: listed last year 2,099,000 did not sell, re listed early 2012 for 1,999,000 and is currently in escrow.
617 Crest Dr.: listed 10/2011 for 1,849,000, sold off market in 2/2012 posted on MLS as sold for 1,800,000.
1808 Pine: was listed 10/2011 1,099,000 re-listed 2/2012 sold in the 900′s.
2404 palm Ave.: was listed 10/2011 1,499,000, re-listed 1/2012 and sold for 1,499,000
705 29th st.: Listed last year 9/2011 for 1,799,000, re-listed 1/2012 for 1,775,000 and closed at 1,750,000
1713 Ruhland: listed 6/2011 was in escrow but did not close, re-sold 3/2012 for 1,040,000

This is most but not all of the examples I could find showing that the market has picked up! To be fair, not all of these have sold for the same price as last year, some prices came down. I can tell you the feeling of last year for some of these listings were not going to sell (within reason). Now 6-12 months later they have now sold. This is a clear indication that the market activity has picked up and in some cases the values have “ticked” up. Overall a good sign that the market is moving.

This house was a Beautiful custom home built for the sellers by Mike Davis Custom homes.

MLS DESCRIPTION:

“NO Need to Preview this custom home designed by Louie Tomaro and built by Mike Davis !! Entry level: 1 bedroom, 1 full bathroom, powder room, formal living room w/fireplace, formal dining room, eat-in family kitchen, family room with floor to ceiling doors/windows and fireplace. Open plan, Chef’s dream kitchen looks out onto both the family room and backyard areas. A few kitchen features: two dishwashers, two sinks, commercial grade stainless appliances (Wolfe 48 gas range), warming drawer, butler’s pantry, a center island and tons of storage. The backyard area is your own private paradise with large saltwater Jacuzzi that also serves as a water feature, outdoor shower, fireplace, built in barbeque area, two separate heating units, dining area, patio and lawn. Upper level: Additional 5 bedrooms and 4 bathrooms, including over sized master suite. Master bedroom and balcony areas offer south facing views looking out over the tree tops to the beach cities and the Palos Verdes Peninsula. 2 of the additional upstairs bedrooms share a large Jack & Jill bathroom while the remaining 2 upstairs bathrooms are en suite. The laundry room with hook ups, sink and great storage is also on the upper level. See attached supplement additional information on this home.”

Below is a picture from my clients that bought in the Manhattan Village that added-on and updated one of the single family homes.  In the old post I showed one client that had just completed their remodel of a cape cod style house in the village and mentioned that I just sold a Spanish style house and they were going to do the same thing.  Here is the before and after:

Wonderful one of a kind custom home located on the best street in the tree section. A very charming “french country” inspired designed house with vaulted ceilings and large windows throughout. Four bedrooms + office/library. The spacious master suite has a seating area, fireplace, balcony and two walk-in closets. Three fireplaces in the house. French doors lead to a brick pation and back yard. The property is on a “street to alley” lot with the garage in the back. Formal living room with 2 story high ceilings and a fireplace and family room in back also with a fireplace. The kitchen is open to the family room with a casual eating area in it. This home also features af formal dining room on the main level.

www.oconnorproperty.com/thirtyfirst

The truth is there are not a lot of “Foreclosures” in Manhattan Beach or Hermosa Beach.  There are some “short sales” and a hand full of REO sales*.

But for all those people looking for one…Here it is!!!!

202 28th street Hermosa Beach, CA
Its a REO (bank owned property) that has been listed on the open market for all to have an opportunity to buy it.

202 28th st. is a large duplex (two units, one up and one down) on a full lot (30X80 ft.) one block from the sand in North Hermosa. Each unit is a 2 bedroom, 1 bath with a kitchen and hardwood floors.  The upper unit has an ocean view and even though its not mentioned in the listing there is a bonus unit over the two car garage.  This is not in great condition, needs paint and other standard maintenance.  Its on a corner of a busy street but taking that into consideration its still a great deal.

The price is: $935,000!!!!
This is well below the market, the agent even acknowledges it in his “Agent notes”, commenting that he knows there is going to be multiple bids but this is the way the Bank wants to handle the sale.

I would expect there to be many offers and the price to go well over $1,000,000. Call me if you more information

Listed by Leo Nordine

*REO sale is a property that has been foreclosed on by the bank and did not sell at the foreclosure action.  The bank is the official seller and listed the property on the open market.

759 27th st. Manhattan Beach $1,579,000, sold in 9 days with multiple offers.
Listed with Linda Dondero – Shorewood Realtors
4 bed 3 bath, 3300 sft. 4800 sft lot great condition, reverse floor plan (Bedrooms down stairs).

2461 Myrtle Ave. Hermosa Beach, CA 90254 Listed with Dave Caskey – Shorewood Realtors
$2,849,000 sold with multiple offers 4 beds, 3.5 baths 3,400 sft, Ocean Views! Really nice house sold in 12 days with multiple offers!!

Picture of deck off of the living room:

DID I MENTION THE MARKET IS HEATING UP!

p.s. GO PATS!!

First off there are a lot of qualified buyers out in the market ready, willing and able to buy property. These buyers are very price sensitive and if something is priced right buyers will move quickly and in some cases there will be multiple offers. If something is not priced well buyers will pass over it and let it sit on the market and watch it come down in price. I advise my sellers that they can do more harm to their “bottom line” by coming out with too high a price and missing the market and then struggle to even get the right price for the property.

The problem with market that is causing a ton of frustration is there is very little inventory (houses for sale) in Manhattan and Hermosa especially!

MARKET SNAP SHOT:

Houses for sale in Manhattan: 20
Houses for sale in Manhattan on the market for less than 24 days: 10
Houses in Escrow this year: 19

Houses for sale in Hermosa: 12
Houses for sale in Hermosa on the market for less than 24 days: 6
Homes in escrow for this year: 7

Sale of the week for Hermosa:

345 33rd st. Hermosa Beach, CA 90254: 5 bedrooms 3,800 sft. Listed at $2,499,000 sold in 6 days! Great condition, some view, good location and priced in line with other sales, equals quick sale! Listed with Stroyke properties – Robb

Sale of the week for Manhattan:

1305 8th st. Manhattan Beach, CA 90266:
4100+ sft. 6 bedroom house in east Manhattan listed at 1,725,000 by South Bay Brokers-Nick Schneider Sold in 10 days with 2 offers.

We don’t normally make stuff like this public but we wanted to show you what (at least) one of our clients thought of our work. More importantly you will see that they have been clients of ours for years and have done multiple transactions with us.  This is what almost all of our business is, repeat and referral. We work very hard for our clients and make sure they are getting the best advice and service possible. We are not the biggest name in town but we try to be one of the hardest working. 2011 was a great year for us and a great year for our clients that bought and sold. Below is what one of them had to say.

Dan and Lorie O’Connor sold this house in less than a day to the perfect buyers who will love this home as much as we have for 16 years. The O’Connor’s are more than our trusted agents. They are our friends, This relationship started back in 1994 when Lorie O’Connor secured this dream home for us by tracking down the sellers at a local restaurant and personally presenting our offer and a heartfelt description of why we were the right buyers for their beloved home. The other competing offers didn’t have a chance!

Fast forward to 2011. They negotiated an equally successful deal that is taking us to our next dream home. Trust us, it wasn’t easy. This transaction took every bit of Dan and Lorie’s years of experience, quality relationships with local agents and savvy to make this happen. And that was only the beginning.

Dan and Lorie have personally met with trades people, negotiated bids on work, project-managed the work, and passed along to us their excellent contacts for everything from new roofing to industrial house cleaning. It is a pleasure and a relief to work with agents who genuinely care about us. It is why my mother, my best friend, and my neighbors all used the O’Connors to secure their dream homes too! I would not be surprised if someday our elementary school-aged daughter grew up to purchase her first home from Dan O’Connor. I could not think of a more trusted resource for such an important milestone.

Sincerely,
Carol and Mike

It was 1993 and the market was not looking very promising. Interest rates were twice what they are now and the economy was very grim.
I was working like a slave to support my family and to keep my head above water. Kind of like it is now for most of us. So what did I do?
Well I’ll tell you….
I bought my first piece of income property. Prices had gone down to a new low and I realized it was time to get me a piece of it.
I was scared. I was nervous. I was ready.
I sought out one good partner and put our funds together and bought some units. I knew it would take years for it to really make sense but I knew someday in my lifetime it would.
Fast forward 15 years and I have what I call a nice piece of retirement! My pension that no one can take from me. A building today that has a generous positive cash flow.

Was I a genius? I don’t think so. I had guidance from other Realtor friends who coached me into making the best business decision I ever made. I’m conservative with my money so this was a huge step for me.

So my message today is let us be your guide to plan your future. Now is a great time to step out and seek an investment property. Of course I want you to have settled into your home sweet home first. Once you have your home for you and your family, it’s time to reach out to that next step of buying a piece for your retirement.

Prices are low and interest rates have hit rock bottom.

Why wait when this is your chance.