Today was our broker’s open tour day for the Torrance & Redondo Beach areas.  There were so many houses to see that you really had to concentrate on one area and just see those.  I did the Hollywood Riviera, 2 in South Torrance (Seaside neighborhood) and one on the Avenues in South Redondo. 

The price ranges were from $719,900 for a small house on Clearsite in the Seaside neighborhood of South Torrance to $1.649.00 for a large, 3800 sq ft, of new remodel in the Hollywood Riviera on Via Buena Ventura and then many in between. 

Clearsite – 3 bedrooms, 2 bathrooms + a family room, laundry room and bonus room off the garage.  The floorplan was a bit quirky but such nice curb appeal – $719.900

Via Buena Ventura – gorgeous floors, amazing floor plan (clearly planned by a woman), pretty kitchen, great backyard, great master suite with huge walk-in closet – $1.649.000

New one on Calle Mayor (there are few houses for sale on CM right now.)  Very well done remodel.  Great kitchen, nice finishes, pretty view and a nice floor plan – $1.219.00

Via Sego – not many come up on this small charming street in the Hollywood Riviera – This house is certainly dated, but has great bones, a nice ocean view and a pool.  The pool had this cool slide that came off the deck above it – guessing that wouldn’t be installed in 2010’s-world (I loved it!)  Had a lower level family room with fireplace as well as an extra bedroom and bath down there….a great party house – $1.299K

Broker’s Opens really help the agents get a sense of the market and what is happening.  We can’t sell houses to people without a sense of value.  You’ve got to see the houses to establish this.  These were some of my favorites today!

   New Hollywood Riviera Listing – under $1 million!  709 Calle de Arboles, Redondo Beach, CA 90277

You’ll want to come see this new listing either this Thursday (March 4th) from 12-2 or this Sunday (March 7th) from 1-4 because it is spectacular.  It offers a great lifestye in the Hollywood Riviera living close to the walking trail and not too far from the beach, Riviera Village and Riviera Elementary, Rocketship Park – these are all some of the fine benefits to living in this wonderful neighborhood.  This home has a sparkling pool and a bonus pool house with half bath and outdoor shower all in your backyard.  It makes for some fun parties or relaxing afternoons in the sun.  The minute you walk into this appealing home you are warmed by the light streaming in from the distinctive windows and clearstory windows in the open beam ceilings.  There is a gorgeous kitchen with honed black granite counters, wet bar and office area built in – and it’s open to the dining area/family room all warmed by a cozy fireplace.  Stone patio off the dining area perfect for BBQ’s.  Throughout the house there are gleaming walnut hardwood floors that are so pretty.  Wood with frosted glass interior doors add distinctive style to the home.  A sharp master bathroom boasts a spacious shower and lots of pretty light.  The master bedroom has its own private deck to admire the pretty back yard with gated pool area.  Don’t forget the bonus room – garage converted to a pool house with 1/2 bath and it’s plumbed for a wet bar.  This bonus room is perfect for whatever you desire – art room, guest house, pool/game room, home office, etc.  Come see it for yourself this week!

Home Valuation is not a science.  We are in a complex market.  Are prices heading up again?  Are they stabilizing?  Are prices yet to take a hit?    How then can we truly find an appopriate price for a home?

It takes local knowledge from a seasoned professional to really come up with a true value of a home.  Maybe even an appraiser can not come up with a real value if they are “out of area.”   There is no way these appraisers (or agents from out of the area) could have actually gone into the comparable homes.  A local real estate agent who specializes in your neighborhood most likely will have been inside (maybe even more than once) most of the comparable homes in your neighborhood.   Local real estate agents preview homes constantly as they come on the market during broker open tours as well as when they are showing property to their buyers and/or they have just been in the house since – as local area specialists you’d think they must live in the neighborhood and know the neighbors.    Knowing the comps on paper and knowing the comps in person are two very different things.  As an agent we can certainly gleen certain information from the MLS data – pictures, description, agent notes often tell a certain story, but being there in person really is the only way to “know” a house and it’s flow, footprint, flaws, etc.  These are what really add or subtract from a homes value.  Square footage, year built, recent remodels – granite, stainless, wood floors, etc… – do add value as well.  But a quirky floor plan is hard to forgive. 

Just looking at the comps on paper again is just not enough.  Digging deeper, making some phone calls and researching time on market, distressed or not seller situation, what type of financing was used?  These are all conditions that could make a difference in the pricing of a home, which in turn may or may not hurt the price of your home.

Noting the difference between the “asking” price of a home and then the “selling price” of  a home can tell a story in itself.  Clearly there is a relationship between time on market and the selling price.  The closer to the list date typically closer to the list price a home sells for.  The longer a home sits on the market, the further away the sales price is the original list price.  How many price changes were made on a listing before it sold?  These are all ways to really help determine what a home’s true value is.  Often, a home that is priced right to start with will sell for more than a home that overprices and then follows the market down in price.  This type of sale typically ends up as a loss for the seller.  It languishes on the market and then looses steam and people start to wonder what is wrong with that house and in the end it sells for less – typically.

Valuing a home requires a full inspection of a home – inside and out.  A discussion with a homeowner as to what improvements have been made can add value to a home and without knowing what those improvements are one can not accurately price the home.  Obviously, market conditions drive the price as well.  How many homes are currently for sale in that market?  What has sold recently?  What homes are pending sale and will offer the latest comps to come?

$/sq ft – can be useful in a “cookie cutter” neighborhood where all the homes were built the same year and have not been remodeled too much yet – think a newer planned unit development.  (You know – there is floorplan A, B or C.)  In an average suburban neighborhood built in the 50’s, there is too much differnce in all the homes – remodels, additions, improvements, etc to compare them this way.  One can come up with a general average dollar per square foot, but of course the smaller the home that greater that number will be and vice versa.

As you can see, it’s not a science.  There are so many factors.  Please be sure to call a professional realtor in your area who is knowledgeable and who has been “around the block” for a while as they will have been in the comparables and will know it by heart typically.

Sunset on Calle Miramar Jan 2010

January 28, 2010 – check out this amazing sunset we were priviledged enough to view the other evening out on a walk!  We are so lucky to live in such a beautiful neighborhood.  The beach is so close as is the very quaint Riviera Village for all your shopping, caffeine and culinary needs.  It’s the end of January and we’re able to head out, take a walk and enjoy an amazing sunset like this one!

Here is something you can do to quickly help the earthquake victims of Haiti.   Take your gently worn shoes to any Sport Chalet store and they will get them to the earthquake victims.  My closet feels a bit more spacious and I feel good knowing I am helping someone out.

It’s 2010 – Happy New Year!  “Twenty-Ten” is bound to be a good year.  To get things started the Hollywood Riviera neighborhood has 18 properties currently for sale.  11 of those are single family residences, 2 condos and 4 townhouses.  $525,000 gets you a 2 bedroom/2 bathroom condo near the bluffs and the Palos Verdes border.   Bring $675,000 to the table and enjoy a 3 bedroom, 2 1/2 bathroom ocean view townhouse close to Torrance Beach!  Just under a million and you can “play ball” with the bank on a short sale for a nice 3 bedroom/2 bathroom single family residence.  On the high end – $3.5 million dollars – you can own a 22+ thousand-square-feet-piece of the Torrance Beach bluff and the house that goes with it.  Nothing in the way of those ocean views!  

December 5th, 2009 – Here in the Hollywood Riviera there are only 15 houses for sale right now.   6 on the Torrance (90505) side of the line and 9 on the Redondo Beach P.O. Box (90277) side of the line.  The Hollywood Riviera neighborhood has 2 addresses – Torrance and Redondo Beach although it should be noted that the entire area lies in the City of Torrance.  The Redondo Beach side is merely a P.O. Box and has nothing to do with the city of Redondo Beach.  Schools are all South Torrance – Riviera Elementary, Richardson Middle School and South High School.

Of the 15 homes currently for sale – the prices range from $615,000 on 5026 Pacific Coast Highway, Torrance, CA 90505 to 517 Paseo de la Playa, Redondo Beach, CA 90277 which is located right on the bluff above Torrance Beach listed for $3,500,000.  As you can see there is quite a broad range of homes for sale.  In the mid-range, let’s say $949,000 – $1,099,000 there are 4 houses for sale that all have different qualities that make them each unique. 

1. 4817 Via El Sereno, Torrance, CA 90505 – 3 bedrooms, 2 bathrooms with a nice open modern floor plan.  The house has many upgrades including a very decked out garage.  The home has a nice city lights view out the back from a nice deck with a built-in firepit and seating.  Surround sound package and high-end lighting systems make this home ready to move into today!  $949,000

2.  452 Via los Miradores, Redondo Beach, CA 90277 – 3 bedrooms, 2 bathrooms (although one bath is off the kitchen and not near the bedroom area.)  Newer kitchen with granite counters and stainless appliances looks out back to the sunny south facing pool area.  Main bathroom is nicely remodeled as well with double sinks and pretty tile.  $949,000

3.  359 Paseo de Gracia, Redondo Beach, CA 90277 – One of the few short sales in the neighborhood (currently there are 2 active on the market.) This one has been on the market a while and it was way over-priced at $1,179,000 but they just reduced the price to $958,000 which makes this 3 bedroom, 2 bath with over 1800+ square feet seem much more attractive.

4. 209 Vista de Parque, Redondo Beach, CA 90277 – as the name implies, it’s located adjacent to El Retiro Park and this nicely appointed, recently remodeled throughout 3 bedroom, 2 bathroom home priced at $1,099,000 is quite nice.

If you are interested in seeing any of these or other Hollywood Riviera homes for sale, just give me a ring or an email.
Thanks, Kelly

Home sales rise to highest level

in 2.5 years

10.1 percent increase beat analyst expectations by more than sevenfold  

updated 1 hour, 41 minutes ago

WASHINGTON – Home sales far exceeded expectations last month, surging to the highest level in two and a half years as first-time buyers rushed to take advantage of an expiring tax credit.

The National Association of Realtors said Monday that home resales rose 10.1 percent to a seasonally adjusted annual rate of 6.1 million in October, from a downwardly revised pace of 5.54 million in September.

Almost Thanksgiving – wow!  Time is moving along as usual and so is the South Bay real estate market!  Not many homes that are under $1 million with good bones, move-in condition and nice views stay on the market too long any more.  Here are three such homes that are currently available.    Click here to be directed to the listings.

The first one has been on the market for about 58 days now and they have reduced the price 3 times – so clearly they are motivated at this point.  The current price is $998K (reduced from $1.199K originally.)  It’s a nice Hollywood Riviera home located on a cul-de-sac with a panoramic city lights view.  The home has been nicely updated and has an amazing garage! 

The next one is a brand new listing here in the Hollywood Riviera – it’s close to Rocketship Park and Riviera Elementary (but not too close!)  This home has amazing panoramic views and gorgeous hardwood floors to boot!  It’s very well priced at $949K.  I doubt this one will last long!

The 3rd good deal in the South Bay for under $1 million right now is in Rolling Hills Estates.  It’s right off of Silver Spur, so it’s got great access on and off the “hill” as well as being close to Peninsula Center shopping and Peninsula High School – an award winning high school in Palos Verdes.  It’s been recently updated throughout with a nice open kitchen.  Hardwood floors, a fireplace and sliding glass doors to the back patio and yard make the living room extra special.  For $899K it’s the most well priced of the three homes listed here today.  I bet this one won’t last long either.

If you want to see any of these homes, call me right away….doubt they will be around for long. 

If you want a good pay-off, STAGE the property!  It’s so worth the extra time and money spent upfront.  Basically, sellers that sell without staging – which includes everything from finishing little jobs that have gone undone (think handyman), painting (can mean adding color or subtracting color), bringing in furniture and accessories that are appropriate for the style of the house, and de-cluttering of personal items.  Staging can cost some money and note that it’s money well spent.  Money that often brings in double what was spent if not more.  Either the seller can do the work up front and reap the financial rewards or the buyer can buy the house in “as is” condition and do the work – thus reaping the rewards themselves. 

Why would a seller leave money on the table? 

A good realtor who is doing his/her job should be able to advise a seller of what is the best use of money spent on staging.  It’s a lot of work that also costs time, but remember the old adage, “Time is Money.” 

We have two good examples of recent listings that were Staged prior to listing.  Both homes sold in less than a week with multiple offers – a seller’s dream!  Why not position yourself in the driver’s seat vs. the “buyer’s market – seat.” 

House #1 – Brand new construction, contemporary styling, yet was “unfinished.”  And many people find contemporary homes a bit cold.  We advised the seller to finish all the small jobs – jobs that are hard to finish when you’ve just spent a year in charge of all the other new construction jobs.  Paint played a big role in the staging of this contemporary.   Adding paint to certain “feature walls” brought drama, warmth and style to what could have been a very cold atmosphere.  Bringing in just the right stylish furniture and accessories creates a “lifestyle” that is to be envied and a need for emulating.  When it’s done right, we’re talking “Architectural Digest” and who doesn’t want that?  This house was listed for $1,795,000 and received multiple offers selling over it’s list price in 4 days!  “Staged Right” was the staging company that we worked with on this job.

Via Corona – Staged Living Room

House #2 – 1950’s original – Stager gets a hold of it – mind you this is not just any “stager” it’s Laura Kistemaker of “Staged Right” who is the best in the South Bay – she  takes control of the minor remodel which included refinishing the hardwood floors (adding some in a few places), re-tiling the kitchen floor, painting throughout (exterior, interior walls, cabinetry, etc.), remodeling the 1 1/2 bathrooms completely, and some landscaping.  On top of that, she completely staged the house – bringing in furniture for all rooms and all accessories to create the lifestyle that one wants.  Again, time spent upfront, but the outcome was huge!  8 offers in less than a week and sold over its asking price of $724,900.

Greenmeadows Living Room Staging