Articles

digs, south bay digs, magazine, issue 64, June 21, 2013

South Bay Digs • June 21, 2013

DIGS June 21, 2013

It’s once again, summertime in the South Bay. The local real estate market has been picking up velocity all year and I’m seeing lots of new construction in the beach cities. All year we’ve been hearing about the lack of inventory, but would you believe that Manhattan Beach has had more closed sales in 2013 (January – June 17th) than Hermosa Beach and South Redondo Beach combined! See chart below. On the COVER this issue is the ultimate luxury family home in the Hill Section in Manhattan Beach.

digs, south bay digs, magazine, issue 63, June 7, 2013

South Bay Digs • June 7, 2013

DIGS June 7, 2013

Mortgage rates are at their highest level in more than a year, Freddie Mac reported at the end of May. While still extraordinarily low by historic standards, Freddie Mac’s survey reported that the average for a 30-year fixed loan rose from 3.59% a week prior to 3.81% the week of May 30th. Just imagine trying to purchase and finance a home back in 1981 and 1982, when typical mortgage rates exceeded 16%! Below is a quick snapshot of 30-year fixed-rate mortgage average rates going back 10 years.

digs, south bay digs, magazine, issue 62, May 24, 2013

South Bay Digs • May 24, 2013

DIGS May 24, 2013

Since we tend to always focus on what the local real estate numbers are telling us about local market conditions, I thought I would share some “big picture” economic numbers that you may find interesting. Housing contributes to Gross Domestic Product (GDP) in two ways: private residential investment and consumption spending on housing services. Historically, residential investment has averaged roughly 5% of GDP while housing services have averaged between 12%-13%, for a combined 17%-18% of GDP!

digs, south bay digs, magazine, issue 61, May 10, 2013

South Bay Digs • May 10, 2013

DIGS May 10, 2013

It’s not every day you get to sit down with some of the most famous names (and painted faces) in the rock ‘n roll world. The DIGS team did just that last week as we got the chance to interview Gene Simmons and Paul Stanley of KISS and learn more about “The Rock and Roll Restaurant of The Future.” Don’t miss our feature article on another locally inspired Zislis Group restaurant with major Rock and Roll DNA, Rock N’ Brews. On the COVER this issue is a custom built contemporary in the Gas Lamp section of Manhattan Beach. Absolutely no expenses were spared in this gorgeous home — a must see!

Dean Thomas, Founder of eReal Estate Corporation

DIGS April 26, 2013

digs, south bay digs, magazine, issue 60, April 26, 2013

South Bay Digs • April 26, 2013

DIGS April 26, 2013

The Palos Verdes real estate market is starting to hit its stride; total year-to-date volume is up $58,831,607, there have been 41 more closed sales, average sales price is up and average days on market is down 28 days from same period last year. On the COVER this issue is a lush Mission Style Spanish Revival estate on a wonderfully quiet street in Palos Verdes Estates. This fabulous home features an amazing outdoor space on spacious 40,000+ sq ft lot situated across from Parkland, and luxurious architectural details throughout.

digs, south bay digs, magazine, issue 59, April 12, 2013

South Bay Digs • April 12, 2013

DIGS April 12, 2013

It’s no secret, the South Bay real estate market is heating up and one beach city in particular, Manhattan Beach. Looking at closed sales for Single Family Residences in Manhattan Beach (March 1 – April 1, 2013,) a total of 32 homes sold at an average $52,350 over listing price at an average of 40 days on market. Several homes in the area have sold for multiple six figures over asking price with multiple offers. Where does it go from here?

digs, south bay digs, magazine, issue 58, March 29, 2013

South Bay Digs • March 29, 2013

DIGS March 29, 2013

Despite the ongoing tight inventory in the South Bay market, aggregate Single Family Residence (SFR) home sales are up 30% so far in Q1 for the Palos Verdes Peninsula over last year. For the period of January 1st through March 26th, there have been a total of 148 homes sold vs. 114 last year. Interesting, average days on market are down 31% and average selling prices are up 4.5%. On the COVER this issue is the serene “VILLA BALINA” — a timeless estate on one of the best streets on the entire Palos Verdes Peninsula with panoramic views of the Pacific Ocean and entire Santa Monica Bay.

digs, south bay digs, magazine, issue 57, March 15, 2013

South Bay Digs • March 15, 2013

DIGS March 15, 2013

Buyers, buyers and more buyers! That’s what is going on in the local real estate market with inventory still very tight. Manhattan Beach is an interesting case study, with only 32 active listings (SFR) as of press time. Prices are also on the rise in Manhattan Beach, which are now at levels not seen in over four years for Single Family Residences. Sellers…? On the COVER this issue is an unforgettable Mediterranean Estate originally built in 1929 for the daughter of Frank A. Vanderlip, the impressive grounds boast unobstructed panoramic ocean, canyon, coastline and Catalina Island views.

digs, south bay digs, magazine, issue 56, March 1, 2013

South Bay Digs • March 1, 2013

DIGS March 1, 2013

It seems like every other conversation I’m having these days with local real estate professionals centers around the topic of “off market” inventory. For our purposes, we refer to “off market” as the properties that are not listed in the Multiple Listing Service (MLS) but are actively for sale in the local market. While this is a subject of much debate, the “off market” inventory in the Beach Cities in the South Bay may be as high as 10% of total available listings for sale at any given time. What is for certain in today’s real estate market is that there are more buyers than sellers, inventory is still low and prices seem to be edging up. As we get into Spring, the market should give us a good indication if inventory will loosen up, but I’m starting to feel that the tide may be turning.

digs, south bay digs, magazine, issue 55, February 15, 2013

South Bay Digs • February 15, 2013

DIGS February 15, 2013

To kick off our new “Real Estate Insider” editorial section this issue we met with Arnold Goldstein, Founder & President of Shorewood Realtors who is celebrating his 50th Anniversary in South Bay real estate. Yes, that’s five “real estate” decades worth of experience, market knowledge and most importantly — wisdom. I remember meeting with Arnold in early 2010 and asking for his advice as I was gearing up to launch the first edition of South Bay Digs. Arnold gave me more than words of wisdom that day — he connected me to people who could potentially help me — exactly what he’s been doing the last 50 years so successfully.

digs, south bay digs, magazine, issue 54, february 1, 2013

South Bay Digs • February 1, 2013

DIGS February 1, 2013

Real estate statistics, they’re everywhere. Home consumers are “armed and dangerous” when it comes to local market trends, as an endless barrage of real estate data is widely available at every turn. If you’re a buyer / seller and agonizing over real estate pricing data and what it all means—relax. What are you looking for? – Gregg Good deal? Place to live? A lifestyle? Place to raise your kids? Easterbrook Whatever your real estate goal, it’s the emotion that counts most.

Luxury Real Estate Happens Here