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Redondo Beach, CA Real Estate News

By Tony Cordi
(Tony Cordi, Broker (Beachtime Realty))
Redondo Beach Homes Sales for First Quarter 2010 A month has passed since my last update on Redondo Beach home sales.  In my post Redondo Beach February Home Sales, I suggested that home prices, which had been relatively flat compared to last year, might inch up a little given the encouraging escrow activity in late February.  Sure enough, the escrows that closed this past month sufficiently boosted the median sale price for the first quarter up by just under six percent from the same time frame last year.   The median price for all home types closing escrow last year was $640,000 on 135 sales.  This year, the number of closings has jumped to 172 and the median price has lifted as well, reaching $676,500.  To add context to this within the beach cities, the median prices for the first q...
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By Kelly and Laura, Sisters SOLD on the South Bay
(Re/Max Estate Properties Palos Verdes)
Hollywood Riviera 1st Quarter 2010 Sales Statistics - Here we are with our first quarter 2010 over already - it sure has gone by fast if you ask us.  So far market activity has been brisk with the number of sales up 80% over this time last year.  The average price is holding steady with less than a 1% decline.  You can see the numbers overall have come down since 2006 (which is not shown but was used in the % change Y over Y column for 2007) average price of $1,221,927 a total of 16.7%.  Our market has also been affected by the number of Short Sales and REO's as well especially in 2010 - the "Pending" sales show that 5 of the 14 homes in escrow are in some sort of distress position.  From what websites like www.ForeclosureRadar.com report we will be seeing a lot more of that activity in...
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By Kelly and Laura, Sisters SOLD on the South Bay
(Re/Max Estate Properties Palos Verdes)
  Happy Easter from the Hollywood Riviera - Happy Easter out there to all!  Here in the Hollywood Riviera we have the Hollywood Riviera Sportsman's Club.  It's a neat organization started in 1949 by a group of civic-minded Riviera residents.  The club was organized to promote community improvement.  They raise money to support our children and schools and we volunteer our time to support community activities. One such activity - the annual Easter Egg Hunt is happening this Saturday, April 3rd at El Retiro Park.  It's a widely popular activity for the youngest members of the Hollywood Riviera community.  It begins at 10am this year. They typically have Easter Egg Hunts set up for different age ranges.  It's always a sell out and the kids have a great time!! If you are interested in more...
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By Krystyna Baty Ryan, HONESTY TRUST TECHNOLOGY SERVICE RESULTS
(Broker)
Krystyna Baty | Century 21 Amber | (310)918-5027 2619 Vanderbilt #A, Redondo Beach, CA FREESTANDING TOWNHOUSE 3BR/2+1BA Townhouse offered at $584,900 Year Built 1979 Sq Footage 1,660 Bedrooms 3 Bathrooms 2 full, 1 partial Floors 2 Parking 2 Car garage Lot Size Unspecified HOA/Maint $125 per month DESCRIPTION Spacious and Bright; Recently extensively remodeled; Gorgeous Front home of only three on a lot; FREESTANDING Completely Detached (no common walls) home with nice private, fenced yard, perfect for barbecue and entartaining; Great value! Open plan - Spacious Living Room and Dining area with custom wood laminate flooring; travertine Fireplace, Wet bar, Custom Plantation Shutters and Recessed Lights throughout, Step out onto the Deck for your morning coffee and enjoy the ocean breeze!...
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By Kelly and Laura, Sisters SOLD on the South Bay
(Re/Max Estate Properties Palos Verdes)
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 ...
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By Kelly and Laura, Sisters SOLD on the South Bay
(Re/Max Estate Properties Palos Verdes)
Top 10 things to do if you live in the Hollywood Riviera - oh there are so many it's hard to think of them all.  Most are so simple.  Life here in the "Riv" is pretty laid back. 1) Walk your dog through the streets of the Riviera - get ready for a work out as there are a lot of hills here. 2) Walk your dog along the 'hiking trail' between the Valmonte section of Palos Verdes Estates and the upper Riviera. 3) Walk into the Riviera Village and enjoy some of the local shops & restaurants.  Some of my favorites includes, Redondo Beach Gelatto, Hennesseys, Redondo Beach Brew Co, Yellow Vase, Trader Joes, Starbucks, Casa Puildo, Riviera Mexican Grill, Pedone's Pizza, La Salsa, Euro Comfort Footwear, the list goes on.... 4) Head to Torrance Beach and have lunch at the local snack shack - burge...
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By Kelly and Laura, Sisters SOLD on the South Bay
(Re/Max Estate Properties Palos Verdes)
Open Houses in the Hollywood Riviera - Sunday, March 28th, 2010 - There are 6 open houses for Sunday, March 28th, 2010.  Here are their addresses as well as the open house times for this afternoon.  Sunday is the typical day for open houses in the Hollywood Riviera.  Sometimes Saturday is also known for open house.  1-4pm is the standard time although in the summer  months sometimes 2-5 as the days are longer and people are out later.  709 Calle de Arboles - $979,000 - 3 bedroom, 2 1/2 bathroom - pool house in back has the extra 1/2 bath.  Beautiful pool and backyard too.  Open 1-4 548 Calle Mayor - $917,000 - 3 bedroom, 3 bathroom - over 1900 sq ft home with pool.  Open 2-4. 217 Vista Del Parque - $985,000 - 4 bedroom, 2 bathroom - very clean home with hardwood floors.  Open 1-4 236 Vi...
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By Kelly and Laura, Sisters SOLD on the South Bay
(Re/Max Estate Properties Palos Verdes)
Hollywood Riviera Real Estate Market Update for March 24th, 2010 - Currently there are 26 homes for sale.  Their average price is $1,184K with the lowest priced home listed for $735,500 (fixer upper that was auctioned off and now is up for court overbid with the minimum bid being $735K) and the highest priced listing at $2,550,000 (brand new construction oceanfront home at Torrance Beach.) The good news for 2010 is that the market has picked up as far as the number of homes in escrow right now vs this time last year.  Currently there are 17 in escrow (pending sale.)  This time last year there were 6 homes pending sale - that is a 64% increase.  Good news for number of sales.  The average price of the current 17homes in escrow is $1,063K vs. the average price in March 2009 of $1,077K - t...
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By Lisa Marie Flenoury, "Lisa The Broker" - Making Dreams Come True
("Lisa The Broker")
Lisa Marie Flenoury | Century 21 Union Realty Co., Inc. | (310) 766-0964 Plant Ave and Aviation Blvd, Redondo Beach, CA Land Use Only 50"x150" R2 Redondo Beach Lot Principles Only Multi-Family, R2 units offered at $775,000 Year Built Unspecified Sq Footage Unspecified Floors 0 Parking Unspecified Lot Size 0.17 acres Maint $0 per month DESCRIPTION Great Town house development site with existing older tear down home. see additional photos below PROPERTY FEATURES - Location for Your Next Development Project LOCATION FEATURES - Electricity - Power - Water - Telephone - Gas OTHER SPECIAL FEATURES - Prime Location ADDITIONAL PHOTOS Photo 1Photo 2Photo 3Photo 4Photo 5 Contact info: Lisa Marie Flenoury Century 21 Union Realty Co., Inc. (310) 766-0964 For sale by agent/broker Equal Opportunity ...
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By Tony Cordi
(Tony Cordi, Broker (Beachtime Realty))
Redondo Beach February Home Sales Home sales in the cities of Hermosa Beach and Manhattan Beach are both up significantly for the year-to-date period versus the same time frame of last year.  Redondo Beach has experiencea similar lift with an additional 45 homes closing escrow in February, bringing the total for 2010 to 102 closed escrows.  This is up from 75 last year for an increase of 36 percent.  As promising as this is, the median price of these homes has not climbed as it has in the other two beach cities.  In fact, the median price is pretty much flat from the same period a year ago.  In Manhattan Beach, the increase jumped nine percent, whereas, in Hermosa Beach it actually exceeded 30 percent.  So at a high level, the total number of sales of homes has grown impressively in the...
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By Krystyna Baty Ryan, HONESTY TRUST TECHNOLOGY SERVICE RESULTS
(Broker)
REDONDO BEACH REAL ESTATE SALES AND HOME PRICES   The Redondo Beach average home sale price in  February 2010 dropped by 1.4 percent compared to the same period a year ago, bringing the average price to $644,196. The number of sales went up by 47 percent! Redondo Beach SoldListings AverageSale Price AverageDOM February 2010 47  $644,196 97 February 2009 32  $653,114 77  All stats are compiled from the Multi Regional Multiple Listing Service. Information is deemed reliable but not guaranteed. If you're wondering what your home is worth, please contact me at (310) 918-5027 for a no cost market evaluation of your property; or visit www.SouthBayHouseValues.net for a confidential, internet home value report. Visit our Redondo Beach real estate resource center at www.RedondoBeachRealEstateOnl...
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By Krystyna Baty Ryan, HONESTY TRUST TECHNOLOGY SERVICE RESULTS
(Broker)
Front home of only three on a lot; FREESTANDING Completely Detached 3 Bd home with nice private, fenced yard; Listed at $599,000 - Great value!  Open Sunday 1-4 Click here for more details Visit www.ISellSouthBay.com for all your Redondo Beach real estate needs and your South Bay real estate needs, including FREE property search, FREE home value report, Buyer and Seller resources, and much more...
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By Krystyna Baty Ryan, HONESTY TRUST TECHNOLOGY SERVICE RESULTS
(Broker)
Just listed!! 3 bd/2.5 bath/ 1800 sq ft of living space! Spacious and Bright; Recently remodeled; Move In Ready Front home of only three on a lot; FREESTANDING No Common walls with nice private, fenced yard; Great value! Spacious Living Room and Dining area with custom laminate flooring; Fireplace, Wet bar, Custom Plantation Shutters and recessed lights throughout, Step out onto the deck and private yard for your morning coffee! Sunny remodeled kitchen, granite counters, built-in appliances. Large, bright master bedroom suite upstairs with cathedral ceilings and balcony; Luxurious Master bathroom completely remodeled; Two additional good sized bedrooms with cathedral ceilings, Direct access to full sized two car garage; half bath on lower level; nice private front yard; Bonus room/game ...
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By Lisa Marie Flenoury, "Lisa The Broker" - Making Dreams Come True
("Lisa The Broker")
   In 1990, the IRS came out with rules on Deferred Exchange of property.  Section 1.1031 of the Internal Revenue Code laid out in detail the procedure for turning a sale and purchase type transaction into an exchange.    Under the Internal Revenue Code Section 1031, the owner of business or investment Real Estate can buy and sell property and by following a few simple rules deffer their capital gain tax.  IF you exchange investment property SOLEY for Investment Property of a LIKE KIND, however, for real property the definition of Like Kind is very broad.  It includes Land, Rental and Business property and either can be exchanged for the other.   Prior to this the trading or exchanging of property had gone on for many years with no clear IRS rules on how those transactions would be taxe...
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By Tony Cordi
(Tony Cordi, Broker (Beachtime Realty))
Redondo Beach January Home Sales The three beach cities of Manhattan Beach, Hermosa Beach, and Redondo Beach have all had a significant increase in the number of total home sales in the month of January relative to the past couple of years.  The pace of sales of Redondo Beach homes has definitely been continuing its upward trend.  Last year in January there were 42 closed sales, up from 35 the prior year.  This past month the number climbed to 53.  The median price, which hit $690,000, had risen modestly from last year, but is still below the $795,000 median price of 2008.  Another encouraging sign is that there were 46 escrows opened in January, bringing the total number of active escrows to an impressive 215.  At four months, inventory levels are slightly lower than the more typical s...
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By Krystyna Baty Ryan, HONESTY TRUST TECHNOLOGY SERVICE RESULTS
(Broker)
  If you're thinking about buying a condo in one of the outstanding 55+ Senior communities, you're in the right place!  There are several senior communities in the South Bay.  Most of them are located in Torrance.  From the beautiful, well established New Horizons to luxurious,  recently constructed Rolling Hills Villas, there is a lot to choose from!    If you're thinking about selling your senior condo, or any other property, please contact me and I'll provide you with a complimentary market value report of your condo to get started. Call 310.918.5027 today! Ask me about Prop 60/90 that will allow you to keep your current property taxes even if you purchase a new home. FREE List of All South Bay Senior Condos Please specify "55+" when filling out this form   New Horizons   New Horizo...
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By Rachel Martiens and Kathy Tyndall = The Tyndall Team, Love Living In The South Bay
(RE/MAX ESTATE PROPERTIES)
FHA loans for condos and town homes can be tricky. Here is a nice link for you to search to see if the condo or townhome that you are looking to purchase is on the approved FHA condo list. Just click here https://entp.hud.gov/idapp/html/condlook.cfm. The link allows you to search FHA approved units by name, location, or status. What does it mean if your condo or townhome is not found on the list? Well, it probably means that you won't be able to secure FHA financing on that particular unit. There may be an exception or two..... Of course you should double check with your lender before getting too serious about a property. You are invited to search all the South Bay listings for free at:  http://rachelandkathy.listingbook.com/ Please email me if you have any questions regarding homes fo...
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By Krystyna Baty Ryan, HONESTY TRUST TECHNOLOGY SERVICE RESULTS
(Broker)
Redondo Beach Home and Property Prices and Sales  The Redondo Beach average home price in  January 2010 dropped by 2 percent compared to the same period a year ago, bringing the average price to $697,755. The number of sales  went up by 29 percent!  Average DOM - days on the market was 79 days. Redondo Beach SoldListings AverageSale Price AverageDOM January 2010 54  $736,906 79 January 2009 42  $752,449 85  All stats are compiled from the Multi Regional Multiple Listing Service. Information is deemed reliable but not guaranteed.Sales in Redondo Beach over last few months reflect a stabilization of the South Bay real estate market as home buyers respond to increased affordability and more moderate prices.   First time home buyers rushed to take advantage of the homebuyer tax credit that ...
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By Kelly and Laura, Sisters SOLD on the South Bay
(Re/Max Estate Properties Palos Verdes)
We sure got our share of rain here last week - now it is our "wet season," but we don't usually get this much rain.  No one I know can remember getting rain for an entire week and not just some drizzle, but downpours for hours at a time.  The flooding of streets, the littering of debris on the beaches and even worse for the poor "burn areas" up in the La Canada/Flintridge areas.  Well, it finally ended and here are some of the local Hollywood Riviera photos as the storm went eastward after pounding us for a week. Calle Miramar in the heart of the Hollywood Riviera - Jan 22, 2010 See the last of the storm as it moves eastward from Rocketship Park. The last edge of the storm seen from Rocketship Park Jan 22, 2010
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By Kelly and Laura, Sisters SOLD on the South Bay
(Re/Max Estate Properties Palos Verdes)
We don't get much rain here in "Sunny Southern California!"  Although if you decided last week would be a good week for a vacation in the Hollywood Riviera - a wonderful little hillside community in South Torrance/South Redondo Beach.  It was wetter than most of us have experienced in years.  Not sure of the final count in inches, but we got more than we needed.  Lots of local flooding - but we are all lucky not to be living in the "burn areas" up in the La Canada/Flintridge areas.  Here are some pictures from Friday last week - the last day of rain in our week of rain.  We got more rain today - but just "normal" rain which is always welcome.  Our local mountains and the Sierra mountains are all thankful as they will have plenty of snow this ski season!! Calle Miramar, Hollywood Riviera...
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