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

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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!

The 4th quarter is closing on us quickly – how did it get to be March 10th already – and we’ve got Daylight Savings Time started now too – which makes it seem even later in the year.   Maybe the spring feeling in the air will get people moving.  The 2009 Stimulus Package sure hasn’t seemed to have made a dent yet.  The brakes are really on right now here in the Hollywood Riviera.  There are 38 homes currently “for sale” or active on the market (and that’s just what is on the MLS.)  They most likely are more than that as “pocket” listings – which is a house for sale if someone brought them a buyer.  Of those 38 homes – the average sales price right now is  $1,241,034.  And the average price per square foot is $548.  If you compare this to last year in March 08 we had 22 homes for sale on March 26, 2008.  They had an average sales price of $1,295,490 and average $/sq ft was $593.  That’s over 50% more homes for sale this year vs. last year same time. 

Let’s look at what is “pending sale” (or in escrow) same time last year vs this year.  6 properties are currently in escrow vs. 10 this time last year – that is not great news for us – especially when you consider that the 10 “in escrow” properties last year was quite low from the year prior to that.  The average pending price this time last year was $1,212,600 vs this years pending average price of $1,076,667 – that represents an 11% difference.  We noted that the 2008 average price was 6% off from 2007, but I don’t think the slide is over yet.  Our area is really starting to feel the crunch.  It is the “spring” selling season – it’s started.   I sure hope it really “starts” soon!

Let’s also look at what SOLD so far this year – 2009: only 6 houses have closed escrow this year and the average sales price is under $1 million for the first time in a long time….although with only 6 closed that is really not enough to give an accurate picture.  For the first time however – part of these 6 solds included to “REO’s” or bank owned properties. 

Winter is such a beautiful time of year. Here in the Hollywood Riviera we have some very special sunsets!  I thought I’d share this one I took the other day – January 4th.  I was in Malaga Cove just above the Palos Verdes Beach Club –  there is a cool little gazebo at the top of the beach – right off the parking lot.   The best views are from there as you look north towards Torrance & Redondo Beaches – Hollywood Riviera’s beaches.  This is a gorgeous picture:

What is pretty cool too is a neat website I heard about today from Active Rain.  It’s called Picnik.com  Picnik is a free website where you can digitally enhance and/or even change dramatically your digital photos.  It is so easy to use…I just tried once and am writing about it because it was so much fun.  Here is that same photo transformed via Picnik!!  Pretty cool and you don’t have to register on their site to use it. 

Doesn’t it look cool – kind of like a painting!  I love it and can’t wait to do some more experimenting with that!