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!

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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!

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Do you have hazardous and/or E-Waste to dispose of?  Did you know the Southbay has a few FREE spots open regularly for your convenience?  Here are their locations and times of operation.

Hyperion Treatment Plants S.A.F.E. Collection Center
7660 West Imperial Highway, Gate B, Playa Del Rey, CA
1-800-988-6942
Hours of Operation – Saturdays & Sundays from 9:00 – 3:00 pm

S.A.F.E Collection Center
1400 N. Gaffey St, San Pedro, CA
1-800-988-6942
Hours of Operation – Friday, Saturday & Sunday from 9:00 – 3:00 pm

Goodwill – Electronic Waste Only
2318 Artesia Blvd, Redondo Beach, CA
“Must be in working condition.  TV’s and computer monitors are not required to be in working condition.”
1-310-376-8122

Salvation Army – Electronic Waste Only
2406 Artesia Blvd, Redondo Beach, CA
“All donations must be in working condition.”
1-310-376-1385

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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.

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Here’s a great article on the above topic – click here.

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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!

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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.

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Realtor Magazine January 2010 issue has a great article I wanted to share entitled, “10 Big Impact, Low Cost Remodeling Projects.”  I found it interesting as Laura and I specialize in getting our sellers’ homes ready for sale and more often than not a lot of these projects + a list of our own is included here.  Nice to get some affirmation that our list matches up in most cases with this list.  Here it is:

1) Tidy up the Kitchen Cabinets – Potential buyers do open the kitchen cabinets.  Homeowners can add roll out organizer trays so that when buyers peek in, they feel like there’s lots of room for their stuff.  (This holds true for your closets too – adding closet organizing systems are well worth the investment.)

2) Add or replace tile – By retiling very inexpensively, you make a room look way cleaner than it was.  Wake up a tired kitchen backsplash or bathroom vanity with new tile.

3) Add a breakfast bar – When a wall separates a kitchen from dining or family room, cut out an opening between the two rooms, add some granite or tile countertop, pull up a couple of barstools and voila – breakfast bar.  Taking the entire wall down may also bring back some of the expense as well, as open floor plans are one of the buzz words these days.

4) Install granite tile instead of a slab – Everybody likes a “granite kitchen.”  Installing granite tiles can be a much more budget friendly way to perk up that kitchen than the higher end slab material.  Although in our higher-end market, it may be worth the money to install the slab.  There are many “pre-fab” granite installers these days, that can do granite counters for much less than the custom guys.

5) Freshen up a bathroom without retiling – With a dated bathroom, putting in a new medicine cabinet ($100-$150), light fixtures ($75- $100), a faucet ($75 – $100), and a vanity ($200 – $300) can bring back your investment right away.  Add a new glass shower door for extra panache.  Bathrooms are on the “highly important” list of most buyers.  This is somewhere you really want to spend money and make it right.

6) Freshen up the basement – a finished basement is very well received vs. a cement block storage room (like most basements.)  Most of us here in Southern California don’t have basements however – so this isn’t on the top of many lists here.

7) Add a room – Look for large spaces that can be enclosed to create a new bedroom for just the price of creating a wall.   Especially when it’s a 2 bedroom home, a 3 bedroom is much more desirable in today’s market.  With more and more people working from home a 4th bedroom is even more desirable.

Spruce up cabinet fronts – painting, re-facing, re-conditioning, adding new hardware are all great ideas for cleaning up the kitchen and adding that “updated” look.  In this same vein, how are the appliances in the kitchen?  Adding a new appliance suite (matching finish) can be quite affordable as long as you stay in the mid-range of choices.  This highly appeals to buyers.

9) Replace light fixtures – In foyers, bathrooms, kitchens, dining rooms, bedrooms – all those old overhead light fixtures – change them out for newer, more modern fixtures.  And if the kitchen has one of those fluorescent light boxes – get rid of that and put in new drywall and can lights.  This is big bang for the buck.

10) Tech up the garage – Replacing the garage door opener with a remote touch pad entry system ($425) makes it look like a high end system.  Also consider a new roll up garage door and opener in place of an old manual door.  Those really date a house.

I am going to add #11 to the list as well as a few other important light remodeling projects that will reward you with big returns upon the sale of your home.  #11 to me is one of the most important projects any homeowner can embark upon to bring big returns!

11) Painting – inside and out.  Wow, now this really can update a home instantly as well as clean it up and make it ready for a new buyer.  This will bring you the biggest bang for the buck!

12) Landscaping – get rid of those old 1950’s shrubs and put in some more up-to-date environmentally friendly plantings.

13) Front door – the curb appeal of your house is so important and as the buyers stand at the front door awaiting their agent getting the keys they notice the front door and patio.  Make this area shine.

14) New interior door hardware – Do your door handles match?  Are they working?  This really updates a house – believe it or not.

15) De-Cluttering – this requires little monetary investment – merely time packing or giving away.  The less the buyer has to focus on that is not your house, the better!  Put it away and save time packing after your house is sold!

If you need us to come and help you get your house ready for sale, we will go through room by room with you as to the many changes you can make to help get your more bang for the buck!

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Who might buy your house?  Who is out there in great numbers becoming our workforce right now?  The Millenials – the people born between 1980 – 1995.  What are some of their characteristics so you know who you need to appeal to? 

Millenials are a tech savvy bunch having grown up with computers, cell phone, text messaging and multi-tasking as an everyday function.  They were doted on by their parents, part of team sports, mommy & me groups, and laden with trophies from participating in sports where there were no winners or losers.  Their priorities are simple - they come first.  So how does one prepare to sell their home to a “Millenial, Generation Y’er?”

First of all, you need to reach this group via tech savvy marketing materials – posts on blogs, Facebook, Tweet’s on Twitter, and other internet based marketing.  Traditional flyers and newspaper ads don’t titillate this group.  That means great (not just good) photos and virtual tours are a must for this group.  It must be “app-able” for the phone.

Millenials are very clever, resourceful and hard-working.  They also know what they want and see no reason why they shouldn’t have it.  Buying a home at an early age does not discourage them, especially in today’s “buyer’s market.”  They are happy to throw out a “low-ball” and see no other way to get a property for the price “they” want to pay.  As a seller, you must not be discouraged and take these offers personally.  Any offer is a good place to start the negotiating process.  It is important to remember this, as the Millenials are happy to keep searching.  They will walk away from a good job if they feel the circumstances are not right, so a home purchase is not any different.

Millenials are “family oriented” and “tech savvy.”   They often want to work from home, so a home office is important to the Generation Y’er.  Keep this in mind when preparing your home for sale.  If you have an extra space in the house that is being un-used, it would be a good idea to stage it as a home office showing off your wireless computer technology is also a good idea.

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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!  

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