Keith Kyle

While the real estate news in California was somewhat optimistic with the number of home sales dramatically increasing over September of 2007, the sales were due mainly to home buyers and investors buying distressed properties, bank owned homes, and short sales at significantly reduced prices. The prices throughout the South Bay were lower year over year in September with the exception being El Segundo. El Segundo saw an increase in the median home price of just over 12% while the rest of the South Bay's median home prices decreased with most cities experiencing double digit declines.

While the news in El Segundo was a bright spot the increase in median price was due in large part to the fact that of the 8 homes that closed in September, most were single family homes. Only one condominium sold and 2 townhomes with the rest being single family homes. Throughout the downturn and negative media portrayals, some cities in the South Bay, especially those closest to the ocean, have remained strong and held value quite well.

Keith Kyle - Realtor, e-Pro - South Bay Brokers- 2501 N Sepulveda Blvd Manhattan Beach, CA 90266 - 310-251-2344 - Keith.Kyle@SouthBayBrokers.com

For real estate information, open houses, and FREE MLS access visit www.KeithKyleHomes.com

Halloween is a great time in the South Bay as it really gives the cities a small town feel. There are plenty of events for the family and despite the 80 degree whether in late October....it makes it really helps make it feel like the beginning of the holidays.

One of the local Halloween Carnivals is the Meadows Halloween Carnival. The carnival is located at Meadows Elementary School in East Manhattan Beachand is located at 1200 Meadows Avenue east of Sepulveda and just north of Manhattan Beach Blvd. The event will be from 4-9 on Saturday October 25th and will feature a haunted house, games for the kids, food and other Halloween fun. Kids are encouraged to wear costumes.

Happy Halloween in Manhattan Beach.

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Keith Kyle - Realtor, e-Pro - South Bay Brokers- 2501 N Sepulveda Blvd Manhattan Beach, CA 90266 - 310-251-2344 - Keith.Kyle@SouthBayBrokers.com

For real estate information, open houses, and FREE MLS access visit www.KeithKyleHomes.com

Many of my clients find me through the internet and are often looking for "deals" in the South Bay and often think that the best place to be searching is short sales and bank owned opportunities. Short sales and REO properties both generally fit under the moniker of foreclosure listings, but they're quite a bit different in terms of the process and simplicity of purchasing a home. While looking to purchase a bank owned home can be fairly straightforward, buying a short sale may not be so simple.

What often draws people to these South Bay short sale listings is the price. The price often seems too good to be true....and sometimes it is. Here's the reality and the reasons such low list prices are possible. Unlike a traditional sale the homeowners are not trying to walk away with as much money as possible. They are actually having to sell the home for less than they paid (or owe) so price is not determined by what they think it is worth, which is often the reason homes are overpriced. The price is usually set by the listing agent and the reality is that they can price it as low as they want, and often well below market value, as the bank or lien holder has final say on what they will accept. You may see a home priced at $300,000 in a neighborhood of $400,000 homes, but they bank may determine that it's worth $400,000 and eventually reject your offer.

Upside Down in the South Bay

While many short sales can be great deals (for those patient enough to deal with the additional time it takes), you should consult with your Realtor to determine what the home is really worth and whether the price that it's listed for is just meant to entice offers, or something that the bank may actually approve.

There is also what's known as a bank approved short sale which means exactly that....they bank has basically agreed to a price that they would sell it for. This type of short sale is very more likely to actually happen and the timeframes are much shorter as much of the work has already been done.

Click here to see short sales and bank owned homes in the South Bay cities of Manhattan Beach, Hermosa Beach, Redondo Beach, Torrance, Hawthorne, El Segundo and Palos Verdes.

Keith Kyle - Realtor, e-Pro - South Bay Brokers- 2501 N Sepulveda Blvd Manhattan Beach, CA 90266 - 310-251-2344 - Keith.Kyle@SouthBayBrokers.com

For real estate information, open houses, and FREE MLS access visit www.KeithKyleHomes.com

Are you and the family looking for a great place to spend Halloween in the South Bay? The walkstreets in Hermosa Beach and Manhattan Beachare a fun and safe place to go trick or treating. The walkstreets in both cities offer a small community feel in which neighbors all know each other and often plan a "block party" with haunted houses, decorations and lots of fun. The walkstreets are pedestrian only streets which makes for a safe and fun environment without cars to worry about. The walkstreets can be found within a few blocks of the oceanfront Strand in both cities. There are plenty of kids that live on the streets, and plenty of kids that drive in to take advantage of the wonderful Halloween atmosphere.

Keith Kyle - Realtor, e-Pro - South Bay Brokers- 2501 N Sepulveda Blvd Manhattan Beach, CA 90266 - 310-251-2344 - Keith.Kyle@SouthBayBrokers.com

For real estate information, open houses, and FREE MLS access visit www.KeithKyleHomes.com

I have many home buyers approach me about their home search in Manhattan Beach and I have to make sure that they understand that Manhattan Beach has some very different neighborhoods and each has something unique to offer. There are really 5 distinct neighborhoods in Manhattan Beach that are the sand section, tree section, hill section, Manhattan Village and East Manhattan Beach

An ideal location for families, East Manhattan Beach offers something much of the South Bayand other neighborhoods of Manhattan don't.....space. With lot sizes generally being either 50x100 or 50x150, homes in areas east of Sepulveda Blvd. often allow for larger homes and large yards. These larger lots have been of particular interest to builders in the past few years and there has been a tremendous volume of new construction homes recently. With the market having slowed and the inventory of new homes continuing to rise, the past few months has been a tremendous time to find builders willing to negotiate and sell these homes for well below their original prices. Click here to see all of the homes currently on the market in East Manhattan Beach.

In addition to new construction East Manhattan still offers some original "fixer" type homes and often have the lowest priced single family homes in all of Manhattan Beach. These homes may not have lasted on the market in the recent past with builders quickly buying them up, but they offer home buyers an excellent way of getting a home in a great neighborhood and in a tremendous school district. Most of these homes are 3 bedroom 1 bath homes with 1200 square feet or so. Some have been nicely updated while many have original kitchens and bathrooms and could use some work. They are often priced at "lot" value and can be a good situation for someone looking for a good home now and a lot to build their dream home on later.

Keith Kyle - Realtor, e-Pro - South Bay Brokers - 2501 N Sepulveda Blvd Manhattan Beach, CA 90266 - 310-251-2344 - Keith.Kyle@SouthBayBrokers.com

For real estate information, open houses, and FREE MLS access visit www.KeithKyleHomes.com