With prices in the South Bay becoming more affordable and interest rates at historic lows, more buyers are deciding that the time is now to purchase a home. In the current market many buyers are more focused on finding a "deal" than finding a great home. They approach me hoping to find these bargains that they've heard about and are concentrating solely on the foreclosure market. It's understandable as the news and headlines (as well as some sales pitches from realtors, internet companies, etc) are all touting finding these homes as a simple process and a get rich quick scenario. They make it sound simple to find a home and buy a home that's way below market value. So is this the best approach and is this the reality in the South Bay?
While searching for distressed homes can be a good way of finding homes that are priced well, the reality is that the homes that are priced well below market usually end getting bid up and selling for much closer to market value. I recently had a client interested in a 2 bedroom home in a great neighborhood of Gardena. The price was $284,000 which was a steal. My clients put in an offer of $300,000 and didn't get the home which eventually sold for $365,000 (which is no longer much of a deal!)
Buyers must keep in mind that they're not the only ones searching for these deals....and when they do come along it's often a multiple offer situation in which the home sells for way over they're asking price. So although South Bay REOs and short sales can be worth looking into, there are also a number of homes that are traditional sales with motivated sellers...and you may not have to compete with other buyer to get them.
Keith Kyle is a licensed Realtor and e-Pro with South Bay Brokers in Manhattan Beach. He serves his clients throughout the South Bay and his websites KeithKyleHomes.com and FindYourSouthBayHome.comoffer the most comprehensive real estate websites in the South Bay with free MLS access, current home listings, open houses, recent home sales information and more. Keith can be reached at 310-251-2344 or by email at info@KeithKyleHomes.com
The number of short sales and bank owned homescontinue to rise in January with 12 homes now active on the MLS. The homes are almost all single family with the townhome at 311 Aviation Place being the exception. While Manhattan and Hermosa have been fairly immune to the foreclosure market in the past the difficulty of obtaining jumbo loans has made for a slow market and price reductions. See below to view the current distressed properties in Manhattan Beach.
Keith Kyle is a licensed Realtor and e-Pro with South Bay Brokers in Manhattan Beach. He serves his clients throughout the South Bay and his websites KeithKyleHomes.com and FindYourSouthBayHome.comoffer the most comprehensive real estate websites in the South Bay with free MLS access, current home listings, open houses, recent home sales information and more. Keith can be reached at 310-251-2344 or by email at info@KeithKyleHomes.com
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This was taken from an email sent to me by the Gas Co and as I thought it might be beneficial to home owners in the South Bay and Southern California, I thought I'd post it for local homeowners.
The Gas CompanySM is testing a new energy efficiency program for existing homes that would offer qualifying customers a comprehensive, As a special thank you, qualifying participants will receive a $200 gift |
This is not a sales call and the technician will not try to sell |
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Qualifying participants must: • Be a customer of The Gas Company AND Southern California Edison. • Own a single-family, detached home, built between 1945-1985, and approximately 1500-2500 square feet. • Provide the technicians with access to your home, attic, crawl space, roof, garage, etc. • Be at home during the survey (about 4-8 hours) and answer questions about your home and how you use energy. • Allow the technicians to attach test equipment to doors/ducts, mask/tape air registers, use ladders, and drill holes in combustion appliance vents (which will be closed afterwards). • Provide us with copies of your utility bills before the testing date is confirmed. If you are interested in participating, please email us to learn more. The Gas Company is committed to helping customers manage their energy use to save money and help the environment. |
Keith Kyle is a licensed Realtor and e-Pro with South Bay Brokers in Manhattan Beach. He serves his clients throughout the South Bay and his websites KeithKyleHomes.com and FindYourSouthBayHome.comoffer the most comprehensive real estate websites in the South Bay with free MLS access, current home listings, open houses, recent home sales information and more. Keith can be reached at 310-251-2344 or by email at info@KeithKyleHomes.com
It wasn't long ago that homes on The Strand never even made it to market. They would often sell before actually being listed as the demand has always been so high and the supply is certainly limited. The Strand is the ocean front strip of homes that stretches from El Porto in North Manhattan Beach to the very end of Hermosa. As ocean front land is always at such a premium there are rarely homes for sale. That has certainly changed in recent months. At the moment there are 13 homes for sale with 8 being single family homes, 1 townhome, 3 hotel condo rooms at the Beach House, and one multi unit income property. In addition there are 3 homes currently for sale that have not been brought onto the market at this point. The most expensive home (on market) is $13.9M with the lowest being a non view unit in the beach house priced at $599,000 with the average being just over $6.0M. To keep current on the ocean front homes for sale on both the Hermosa Beach Strand and Manhattan Beach Strand visit www.SouthBayOceanfront.com.
Keith Kyle is a licensed Realtor and e-Pro with South Bay Brokers in Manhattan Beach. He serves his clients throughout the South Bay and his websites KeithKyleHomes.com and FindYourSouthBayHome.comoffer the most comprehensive real estate websites in the South Bay with free MLS access, current home listings, open houses, recent home sales information and more. Keith can be reached at 310-251-2344 or by email at info@KeithKyleHomes.com
December 2008 had 5 closed sales in El Segundo. Of the 5 sold homes 2 were single family homes, 2 were townhomes and 1 was a condominium. The average sales price was $621,400. Of the 5 homes sold in December one home was a distressed sale and was bank owned. For information and details on all of the sold homes in the South Bay for December see December home sales.
Keith Kyle is a licensed Realtor and e-Pro with South Bay Brokers in Manhattan Beach. He serves his clients throughout the South Bay and his websites KeithKyleHomes.com and FindYourSouthBayHome.comoffer the most comprehensive real estate websites in the South Bay with free MLS access, current home listings, open houses, recent home sales information and more. Keith can be reached at 310-251-2344 or by email at info@KeithKyleHomes.com
Specializing in fine Manhattan Beach and Hermosa Beach properties. I work with both buyers and sellers in the Beach Cities to make the real estate experience as simple and stress free as possible.
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