SOUTH BAY DIGS—the only exclusive real estate magazine + marketing platform serving the affluent coastal neighborhoods of Manhattan Beach, Hermosa Beach, Redondo Beach and the Palos Verdes Peninsula.
The Strand has been quite active lately on the sales front – a total of four (4) Strand sales in the last sixty days alone. Our front cover home in Rancho Palos Verdes is a truly remarkable property, which I had the chance to preview. Without question, one of the most amazing panoramic view homes in the entire South Bay.
The real estate business has changed. The digital revolution has changed the rules for how real estate is marketed, advertised and ultimately transacted. Today’s real estate consumer is more educated and sophisticated that ever thanks to online search engines, MLS listing access, and the myriad of sites offering market research / real estate data.
With the first Quarter of 2011
behind us, South Bay DIgs takes an in depth look at the local real estate market trends starting on page 29 for the Beach C ities of the South Bay, (Manhattan Beach, H ermosa Beach, South/North R edondo Beach, P alos Verdes E states, R ancho P alos Verdes, Rolling Hills and Rolling Hills Estates.) As of press time, there are currently 527 active “Single F amily R esidences” for sale with an average list price of $2,116,600 with 92 average days on market.
ON THE COVER: The Lawrence Harris Residence in Hermosa Beach a landmark of modern beach living with uncompromising sophistication and panoramic ocean views presented by Gerard Bisignano, Peninsula Sotheby’s International & Crosby Doe, Crosby Doe Associates.
With the first Quarter of 2011 behind us, South Bay DIgs takes an in depth look at the local real estate market trends starting on page 29 for the Beach Cities of the South Bay, (Manhattan Beach, Hermosa Beach, South/North Redondo Beach, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills and Rolling Hills Estates.)
As of press time, there are currently 527 active “Single Family Residences” for sale with an average list price of $2,116,600 with 92 average days on market.
Home sales in California remained above the 400,000 mark in August for the fifth consecutive month and rose to the highest level since October 2012, according to a recent report from the California Association of Realtors (CAR). The median price of an existing, single-family detached home in California edged up 1% in August to $493,420 from $488,470 in July. Sales of condos and townhomes were up nearly 10% from last year and are ahead 6.6% year to date.
In this issue, we had the chance to sit down with Los Angeles Lakers assistant coach and local Manhattan Beach resident Jim Cleamons to discuss ‘Teachable Moments on the Basketball Court.’ Coach Cleamons is an amazing person, who uses basketball as a muse to teach others about life.
The Strand — it’s more than just a paved path that runs along the sand in Hermosa and Manhattan Beach. The Strand has some of the most exclusive oceanfront estates in the entire Country, where panoramic ocean views of the South Bay provide the setting and the Pacific Ocean is your back yard. The Strand not only exemplifies California’s beach culture — it’s really the quintessential Southern California Oceanfront lifestyle experience.
Our wonderful South Bay community is filled with interesting residents and I’m very lucky to get the chance to meet some of them along the way. It looks like the higher end home sales are starting to heat up a bit in Southern California. Last year, 2010, California homes priced at $1,000,000 or more experienced a 21% increase in sales versus 2009 — the first increase in five years.
Jimi Hendrix, one of my favorite guitarists, and arguably the best of all time, asked the question in his song “Are you Experienced” in 1967 from the album of the same name. In the song, Hendrix invites the listener to go beyond “your measly little world” and go on a journey of self-discovery.
The New Year is upon us and 2011 is off to a fast start! I’ve read various prognostications on what the real estate market will do this year, and as usual, the projections are varied. For the overall U.S. economy, the outlook for GDP growth this year is in the 2.5%-4% range — yet we still have a high unemployment number and other factors that will play a role in determining how the economy will fare this year. Locally, I think the mood is ‘cautiously optimistic’ as we gear up for the all important “Spring Listing Season.”
As we approach the end of 2010, it’s a great time to explore, dream, and discover new possibilities for the New Year. Economically speaking, it’s been a very challenging last couple of years, especially in the real estate sector. At the end of the 3rd quarter of this year, 32% of California mortgages are in a negative equity position, according to CoreLogic. Ever since we launched South Bay Digs magazine in October of this year, I’ve been asking local realtors and brokers the same question—“how’s business?”
