Hollywood Riviera – Is it Redondo Beach and/or South Torrance? – South Torrance doesn’t sound quite as romantic a place as Redondo Beach, but even with a Redondo Beach address, people in the Hollywood Riviera live in South Torrance.  It’s funny that there is a Redondo Beach address for people who really live in South Torrance.  It started back in the 1940’s when the first track of homes was built here.  Most of those homes are in the upper Riviera on the streets – Calle de Arboles, Calle de Madrid, Calle de Andalucia, Via Colusa and Paseo de Granada.  These homes were typically flat roofed and or very small in stature – no more than 1300 square feet – often 2 or 3 bedrooms with one bathroom. 

The city of Torrance where these homes were located is quite large and the closest post office was really far away, so this little area called the Hollywood Riviera requested from the Redondo Beach post office if they could deliver their mail to them.  The rest is history and now a good portion of the Hollywood Riviera (many refer to as the “original Hollywood Riviera” is left with addresses in Redondo Beach. Our ‘real estate map” that delineates the Hollywood Riviera” and its boundaries includes the area with the Redondo Beach address plus the “newer” Torrance-addressed portion (built in the 1950’s.) 

There is a difference in average price between the two areas. When comparing houses in this neighborhood it’s got to be figured whether the house lies in the Redondo Beach 90277 side or the Torrance 90505 side.  For instance, this year alone the average price for the solds on the 90277 side is $1.154K.  10 homes have sold in the Hollywood Riviera on the Redondo Beach side (90277) vs. the 8 homes that have sold on the Torrance side of the Hollywood Riviera (90505) with an average price of $849K.  As you can see there is a dramatic difference here – a 26% difference in price.  For one, the Redondo Beach side tends to have the homes right along the beach and with really good views vs. the Torrance side which includes some of the less desirable locations which brings the values down.  The lowest priced homes are almost always found on the Torrance side and the most expensive homes are almost always found on the Redondo Beach side thus leading the difference in average pricing.

One of the benefits to this interesting address if you live on the Redondo Beach side is that you are a resident of two communities so if you like to participate in community sponsored activities you can pay the “resident” price of both.  A small savings, but a savings none the less!

So as you can see there is a big differential in one neighborhood that a lot of people – a lot of real estate agents – don’t know about. This is why it’s so important if you ask me to work with a real estate agent who is “local.”  They will know the ins and outs of a neighborhood like no one else can.  Sometimes they will even know the specifics like who the neighbors are!

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!

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.

Someone says we have a million dollars to spend….you’re thinking “they’re gonna get a real nice house with all that money.”  Well, I guess it depends where you want that house.  Here in the Hollywood Riviera, it doesn’t get you much anymore.  You have decisions to make when you have a million dollars to spend.  Do we buy a great location with a house that needs work?   Do we buy a little less of a location but the house is much easier to move into?  Do we spend less than the million and really buy a fixer and use the rest to fix it up?  (again thinking of the location.)  When I say location, here in the Hollywood Riviera there are two addresses – although in the end it’s all the same address.  What does that confusing statement mean?  Well, half the Riviera has a Redondo Beach address (a P.O. Box address only though) Then entire Hollywood Riviera is located in the City of Torrance (90505).  There is a perception that is backed by numbers that show it’s more desirable, thus more expensive typically to live on the Redondo Beach side of the Riviera.  Take for example the following averages:

Currently there are 14 houses for sale on the Torrance side of the Hollywood Riviera (90505)

The average dollar per square foot of these is $537.
The average price of those houses is $1,005,850.
The least expensive is $560K and the most expensive is $1,795K.

Currently there are 18 houses for sale in the Hollywood Riviera with the Redondo Beach P. O. Box (90277) address

The average dollars per square foot of these is $627.
The average price of these 18 houses is $1,457,050.
The least expensive is $699K and the most expensive is $3.7 Million.

Now let’s look at the Sold prices Torrance side vs. Redondo Beach P. O. Box side – since January 1, 2009-

On the Torrance side – 28 homes have sold so far this year – January 1st thru Sept 13th.
Their average dollars per square foot price was – $461 (note that it’s lower than the “asking price” of the Active homes.)
Their average sold price was – $835,977.
The lowest price home sold for $605K and the highest priced home sold this year for $1,460K.

On the Redondo Beach side – 23 homes have sold so far this year – Jan 1st thur Sept 13th, 2009.
Their average dollars per square foot price was – $558. (again note lower than the “asking price.”)
Their average sold price was – $1,189,332.
The lowest price home sold for $810K and the highest price home sold for $1,815,000.

Bottomline – You’d think someone with a million dollars to spend would end the day much happier than the normally do.  It’s pretty depressing for me too sometimes to show someone how little a million dollars buys you these days.  We throw around “a million dollars” like it’s chump change but it’s a lot of money. 

Hollywood Riviera Market Analysis – 2nd Quarter 2009 Sales

Great news for sellers this quarter, we had a 29% increase in sales volume!  We have seen homes really sell at a fast pace in the past month here in the Riviera which gave us the increase in sales.  Along with the increase in volume however, we continued to see the average sales price decline, but only by 13% if you look at the first half of 2009 vs. the first half for 2008.  Not the horrific numbers that can be seen in various cities across the  country.   We chalk this up to the #1 rule of real estate: location, location, location.  The properties in the most desirable parts of the state will increase in value quicker in appreciating markets and retain more of their value in declining markets.  We are only off about 17% in the number of homes sold so far this year to the same time period last year.  Not too shabby!  The best way to get your home sold for top dollar is to hire a full-time, Riviera Real Estate expert who can stage and market your home for maximum appeal to buyers€¦ give us a call today!

I just wanted to update you on the amazing rapid clip the Riviera has been on for home sales.  Look back to our May 19th, 2009 blog post and you will see that Kelly reported 10 homes in the sale pending category, with about 45 homes for sale at that time.  As of today, June 24, 2009, I am very pleased to tell you there are 24 homes in the sale pending category with only 27 homes for sale (down sharply from a high earlier this year of about 52 homes for sale)!  What a jump up we have seen lately.  It directly correlates to a lot of positive news the media has reported in the past month, and historically low interest rates.  Buyers perceive this a great time to buy, and perception becomes reality. 

Your House as Seen By:

Yourself

Your Buyer

Your Lender

Your Appraiser

Your Tax Assessor

Donate Your E-Waste and Help Save Our Schools!  

On Saturday, June 6 from 10 a.m. to 3 p.m. the Torrance Council of PTAs will be hosting an E-Waste donation day. 1-800-GOT JUNK is donating 50% of the profits from this event to the TEF/TUSD Save Our Schools Fund to replenish proposed state budget cuts of $9.4 million for the 2008-09 school year.

Acceptable items include: Computer monitors, CRTs, TVs, projection TVs, CPU, towers, printers, fax machines, all-in-one centers, radios, stereos, speakers, phones, answer machines, kitchen appliances, microwave ovens, small refrigerators, and household appliances.

Drop off location is 2336 Plaza del Amo, Torrance, at the Educational Materials Building (EMB) parking lot.

For more information please visit the Torrance Council of PTAs website at http://www.torrancecouncilofptas.org/ or call Tammy Khan at 310-972-6152 or email her at tkhan@tusd.org.

Here in the Hollywood Riviera there is so much inventory – 45 Single Family Homes on the market right now and 7 condos or townhouses.  Pending sales number 6 right now - which is better than it was a few days ago.  We actually have a “high end” house in escrow right now ($1.799K list price)…one of the most expensive houses to sell in almost a year….the last most expensive sale in ‘09 was for $1.4K on March 31st, ‘09. 
The lack of high end sales has killed the average sales price for the 1st quarter.  In 2008 we had a bunch of nice high end sales…2 homes above $2 million dollars and a few in the $1.5K+ range.  We have some great homes here in the Hollywood Riviera – super high end with amazing views, amazing finishes and super locations!   Who doesn’t want to live in the Hollywood Riviera – close to some of the best beaches in the South Bay, close to the Riviera Village – great restaurants, boutique shopping and Trader Joes! 
Of the 45 homes currently for sale there are some that really stand out –  This new listing at 636 Calle Miramar is a neat property on a nice large lot, with views, gorgeous remodel and beautiful backyard complete w/ amazing pool – all this for $2,499,000.  Next standout is  635 Calle de Arboles – a gorgeous home built in 2005 with 5 bedrooms and 4.5 bathrooms – it’s a deal at $1,545,000.  The next price level standout is  this gorgeous ocean and coastline view home at 308 Via Anita priced well at $1,155,000.  Next down the price chain is  this charming home at 5403 Calle Mayor for $929,000.  It’s got a beautiful secret garden style backyard and charm, charm, charm inside!  For the bargain hunter or first time home buyer in the Hollywood Riviera there is  this new listing in the ever popular “lower Riviera” at 236 Via La Circula for only $839,000 – this is a great price for an entry level 3/2 in the lower Riv. 

For any and all info regarding the Hollywood Riviera, feel free to call Kelly & Laura.  We would love to get you familiar with this wonderful neighborhood!