Photos from Tiffany Wilson - Green Real Estate, First Time Home Buyers & Investors
Fresh, locally grown, organic vegetables at the Manhattan Beach Farmer's Market.Located in: Manhattan Beach, CA
In this report, for each area of Redondo Beach, I have collected the number of active listings, the number of homes in escrow, the number of homes sold, and then the minimum, median, and maximum price for active and sold properties.
A few points of interest that I noted while reviewing this data:
This data is as of January 23, 2009.
Area 151 - N. Redondo Beach-Villas North
Total Active Listings: 27
In escrow: 18
Sold Homes (in last 6 months): 72
Minimum List Price: $380,000
Median List Price: $699,000
Maximum List Price: $1,389,000
Minimum Sold Price: $470,000
Median Sold Price: $710,000
Maximum Sold Price: $1,225,000
Area 152 - N. Redondo Beach-Villas South
Total Active Listings: 27
In escrow: 10
Sold Homes (in last 6 months): 68
Minimum List Price: $299,900
Median List Price: $629,000
Maximum List Price: $1,199,000
Minimum Sold Price: $337,000
Median Sold Price: $690,000
Maximum Sold Price: $1,215,000
Area 153 - N. Redondo Beach - El Nino
Total Active Listings: 21
In escrow: 3
Sold Homes (in last 6 months): 18
Minimum List Price: $559,500
Median List Price: $750,000
Maximum List Price: $1,475,000
Minimum Sold Price: $340,000
Median Sold Price: $562,000
Maximum Sold Price: $850,000
Area 154 - N. Redondo Beach - Golden Hills
Total Active Listings: 18
In escrow: 2
Sold Homes (in last 6 months): 32
Minimum List Price: $475,000
Median List Price: $749,500
Maximum List Price: $1,194,000
Minimum Sold Price: $480,000
Median Sold Price: $657,500
Maximum Sold Price: $1,100,000
Area 155 - S. Redondo Beach-N of Torrance Blvd
Total Active Listings: 38
In escrow: 7
Sold Homes (in last 6 months): 41
Minimum List Price: $429,000
Median List Price: $899,000
Maximum List Price: $1,550,000
Minimum Sold Price: $425,000
Median Sold Price: $819,000
Maximum Sold Price: $1,299,900
Area 156 - S. Redondo Beach-S of Torrance Blvd
Total Active Listings: 42
In escrow: 6
Sold Homes (in last 6 months): 37
Minimum List Price: $305,000
Median List Price: $745,000
Maximum List Price: $2,349,000
Minimum Sold Price: $330,000
Median Sold Price: $770,000
Maximum Sold Price: $2,125,000
Area 157 - S. Redondo Beach-W of PCH
Total Active Listings: 51
In escrow: 6
Sold Homes (in last 6 months): 44
Minimum List Price: $317,500
Median List Price: $1,099,000
Maximum List Price: $4,990,000
Minimum Sold Price: $365,000
Median Sold Price: $750,000
Maximum Sold Price: $4,700,000
My last blog post about my favorite local restaurant went over so well that I thought I would try another one. This time, I am going to feature a restaurant that was just introduced to me a few weeks ago, but which is already at the top of my list of favorites. This restaurant is Oki Doki Sushi in Hermosa Beach.
Californians LOVE sushi. We can't seem to get enough of it. Sushi restaurants are all over the place. And everyone has a favorite. Oki Doki Sushi seems to be a favorite of many, as it is packed at both lunch and dinner time. The reason is an obvious combination of high quality menu items and low prices. Salads, sashimi, nigiri, and rolls make up the bulk of the menu, with numerous choices in each category. Oki Doki has both a sushi bar and tables for patrons to choose from. At the sushi bar, watch the hard working chefs making the many colorful and artistic dishes.
Just the other day I joined some colleagues of mine at Oki Doki Sushi for lunch. While there, I took some pictures of our meals. We ordered a wide variety of menu items, all which looked like pieces of art, and which tasted like the finest gourmet dishes. As you can see from the picture on the left, even the miso soup was exceptional.
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The day that we visited Oki Doki Sushi, I ordered the Aloha Roll, which I had tried onced before. It is filled with spicy tuna, avocado, and topped with yellowtail, very thinly sliced green onions, and dots of spicy red sauce. It is a delight to see, and a treat to eat! I even asked for some extra heat in the spicy tuna - yum!
<<One of my colleagues decided to order the Bento lunch so she could try an assortment of items. In it, she got teriyaki salmon, tuna roll, salad, and white rice - a lot of food! She ate as much as she could, but was not able to finish her meal.
>>The fellow who introduced me to Oki Doki Sushi a few weeks prior to this visit, also joined us. As he has at each of his past visits, he ordered the signature Oki Doki roll. The Oki Doki is filled with spicy tuna and avocado, and then covered with fried lobster that is mixed in a creamy, spicy sauce. I think that at my next visit I will have to try that dish!
Fun note: take a look at how much wasabi my colleague mixes with the soy sauce! When he mixes it, it looks like soy-wasabi stew!
<<The final dish that was ordered at our table was brilliant to look at, decadent to taste, yet the name of it escapes me! It was however filled with tempura battered shrimp, crab, and topped with tuna, a teriyaki sauce, and tempura crumbs. Yum!
The portions at Oki Doki Sushi are very generous, yet not overindulgent. Every patron is brought a small dish of cucumber salad and soy beans. At lunch time, we are also served a small "treat", which in the past has been a tempura battered white fish, covered in a white cream sauce and teriyaki sauce - at no extra charge.
Also ordered during this meal were tempura battered shrimp, of which I did not get a picture (we ate them too fast!).
Beverages served are basic (soft drinks, lemonade, iced tea, beer, sake), but I have to say that they have an excellent iced tea.
So here is the proverbial "icing on the cake" - our bill, including tip, came out to about $16 for the each of us. That is for drinks, and appetizer, our meals, and of course the free extras that are standard for every patron. Cheap, yummy, good quality, friendly service... What more can you ask for?
So, I am afraid that I am now hooked on this great restaurant, and will be soon recognized as a regular. If you happen to stop in, and you see me there, be sure to say "hi"!
The South Bay has a thriving surfer community, with many popular surf spots stretching from El Segundo all the way down to Palos Verdes. On weekends you will find hundreds (yes, hundreds) of surfers enjoying the waves - especially when the waves are epic!
As a surfer myself, I have tried several different spots in the South Bay, as well as Orange county and other parts of Los Angeles county. But two of my favorites are located just a few miles from where I live and work: El Porto and Rat Beach.
El Porto is located at the northern-most end of Manhattan Beach at 45th Street. In the winter, you'll find the best, most dedicated surfers at El Porto as the waves are much larger and more advanced. With much milder surf in the summer time, you'll find a more diverse crowd of surfers. Still, beginners be aware: El Porto typically has gnarlier waves and die hard locals. Know your limits so that you don't get in a situation that is too much for your.
El Porto is a great place for the intermediate to advanced surfers who want a challenging wave. It usually moves fast, and when it's good, IT'S GOOD! I have caught some of the most memorable waves there, and had great times with my fellow surf friends.
Moving further South, you come to Rat Beach which is at the border of South Torrance and Redondo Beach. El Porto and Rat Beach are two very different surf beaches. At Rat Beach, you will typically find more moderate waves which are more appropriate for beginners or the "fairweather surfer" who only comes out when the weather is good (summer time). I have to admit that I fall into the "fairweather surfer" category.
One of the things that I love about Rat Beach is that you get some real laid back, easy-going surfers enjoying the waves. They are always very open to helping out the new surfers who show a sincere interest in learning to surf.
The other thing that I love about Rat Beach is that even on a small day, you can have a lot of fun surfing. There have been times that I have arrived at Rat Beach to be initially disappointed with the seemingly lackluster surf, only to catch wave after wave for hours.
El Porto, Rat Beach, and the other beaches of the South Bay are great, but they are always better when surfing with a group of friends. Some of the most amazing people I know are fellow surfers, and I value their friendships. The surfing community is very welcoming and warm.
So, grab your board and give me a call for a "board meeting"! I'm always looking to meet other fellow surfing locals and build a new friendship.
For Sale Vs. Sold
Last month, numbers were indicating that we would see continued high sales in November, the likes of which we had been seeing for the prior few months. We see now that November sales were only half of what we anticipated.
So, is this all bad news? Not really. Though sales were lower than expected, November is seasonally slow so that has to account for at least part of the slowdown. Also, inventory has continued to decrease, which indicates continued growth of market stability in North Redondo Beach. Fewer and fewer properties are getting listed. Homeowners who don't have to sell, aren't.
A personal observation is that North Redondo Beach seems to be a favorite for first time homebuyers. Many first time homebuyers are looking to make North Redondo Beach the location of their first home. As can be expected, it is due to the proximity to the beach, jobs, an excellent school district, the low crime rate, and of course, the reasonable home prices.
Days on Market - Sold Vs List Price (as a Percentage)
The average days on market indicates how long listings are remaining on the market before they are sold. One important point to note is that these numbers do not take into account those listings that do not end up selling, and instead indicate how long fairly priced homes will take to sell.
This is a perfect example as to why it is so important to price a home well when listing it on the market. Pricing a home too high can result in it sitting on the market for far longer than it should, costing the seller time and money.
The trend of Selling Price versus Listing Price in North Redondo Beach is following suit with what we are seeing in the Greater South Bay - selling prices below the listing price.
No significant trend changes here.
Average Price - Sale Vs. Sold
As I suspected in October, October's increase in the Average Sold Price was just an anomaly, and not a trend. November's Average Sold Price resumed the downward trend.
The gap between the Average List Price and the Average Sale Price is gradually getting wider. This information should alarm real estate agents with listings in North Redondo, encouraging them to routinely review how their listing is priced to ensure that it is still competitive in this rapidly changing market.
Months of Inventory
Anytime inventory is more than 6 months, it is considered to be a buyer's market. 3-6 months, a neutral market. Below 3 months, a seller's market.
November's sudden increase in the Months of Inventory on the market is due to the lower sales. Since December is typically also slow, I believe that we will see another increase in December, followed by another gradual decline starting in the first or second month of 2009.
Summary
In November's good news, we are seeing a decrease in the amount of inventory in North Redondo Beach's market. As I mentioned earlier, this is an early indicator that some stability is beginning in the North Redondo Beach market. Let me comment though on some difficulties that some buyers are having with this inventory - in Redondo Beach and elsewhere.
Much of the inventory available all over consists of people that HAVE to sell. That includes people facing foreclosure, bank owned homes, people who have to relocate, and probate/trust sales. In fact, it is fair to say that in some areas, the majority of the inventory is made up of foreclosure-related properties. Some buyers are finding that the quality of a large part of the inventory is very poor. Many homes need considerable fixing up, requiring a fair amount of funds to do so. What I am finding is that many buyers are actually having a difficult time trying to find a home that is in fair-to-good condition that they are interested in.
This is somewhat true in North Redondo Beach as well. Don't get me wrong - there are lots of very nice homes. However, there are others that are "rough around the edges" and definitely require some TLC. This can present a unique opportunity to a do-it-yourselfer or investor who can buy below market price, and build some sweat-equity into the home.
Let me remind you that if you are currently ready and able to buy a home, there is no need to wait for home values to drop further. Statistically speaking, if you plan on buying a home now and living in it for more than 3 years, the value of your home should not decrease, and should in fact increase. Interest rates are very low right now, but you don't know where they will be in a few months. A 0.5% change in interest rate can equate to a 5% change in buying power. That is like money in your pocket!
If you are even considering a home purchase or sale, I would love to earn your business. My team and I have the knowledge and expertise needed to help you make an educated and comfortable real estate decision. We would be happy to arrange a no-obligation consultation with you.
Tiffany Wilson has lived in the South Bay of Los Angeles County for almost 10 years. She and her family enjoy the safety and rich family features that the beach communities of the South Bay have to offer, including a close and neighborly community. Also, having experienced an out-of-country move to California over 10 years ago, she is perfectly positioned to assist out-of-state and foreign buyers in their search for real estate in the South Bay and the additional surrounding communities of Los Angeles and Orange County. She can be reached directly at tiffany.wilson@shorewood.com or 310-503-0557.
I remember the first time I bought a home. I wouldn't necessarily say that it was stressful, but I must admit that I knew NOTHING about buying a home. Well, let me clarify: it was easy to find a home, but every step after that was unfamiliar. I look back now and am SO thankful that I had an excellent Realtor to guide me and keep me safe.
That first purchase though sparked a fire in me - I became addicted to real estate. After that, I learned a lot more about the process of buying a home - shopping for loans, researching the market, what the heck is escrow anyhow, etc... I have come a long way, but it took a long time. I still remember what it was like, and so I understand what my first time homebuyer clients feel like right now.
In fact, I have ended up specializing in working with first time homebuyers. I really enjoy taking the time to explain the purchase agreement that they are signing, as well as the other agreements. I enjoy fielding their calls and emails regarding market values in particular areas. I have also teamed up with a lender who also specializes in working with first time home buyers, and he is GOOD. I always feel confident that then I send my first time homebuyers his way, that he will answer their questions and provide them with the information that they need to feel safe and comfortable with their decisions.
Now I am proud to announce that in an effort to further serve first time home buyers, I will be co-hosting a First Time Home Buyer seminar on January 21, 2009 in Manhattan Beach, California. Here are the details:
When: Wednesday, January 21, 2009 from 7-9 pm
Where: Manhattan Beach, CA (address to be provided with RSVP)
Who: Folks who have not owned a home in the last 3 years
RSVP: Conact Tiffany Wilson at 310-503-0557 or tiffany.wilson@shorewood.com
Notes: Snacks and beverages will be served. This event is FREE!
RSVP today to ensure your spot!
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Do you want to hear about me, or what I can do for YOU? How about a Realtor who keeps in touch with the changing market, so she can adapt to best serve her clients. Competency, knowledge, and service.
I LOVE real estate, and I appear to have an affinity for it. I began investing in real estate in 1999 and have learned a lot along the way and bought some great homes. I have enjoyed this experience immensely, and I find that it helps me greatly when serving my clients.
But it's not just about real estate - it's about the people I work with: my current & future clients, financial professionals, title and escrow, insurance professionals, my peers, and all others involved. Real estate is serious business, but that still doesn't mean we can't have fun with it, does it?
Some people think I am crazy for being in a career in real estate with the way the current state of the housing and finance industry. But, I have always walked to the beat of my own drum. My primary motivator for working in real estate is not financially driven, but because it is something I truly enjoy. I am up for all of the challenges, looking at them as opportunities to grow and learn, not pitfalls. This is no fairweather real estate agent, my friend!
I think it is important to have a mantra - a slogan - which tells people what you are all about. I think I have found one for myself which is simple and succinct:
Responsible Real Estate
Of course I want to act in a responsible manner in all my real estate dealings, but I want to go further than that:
I specialize in the South Bay, beach and surrounding cities of Culver City, El Segundo, Gardena, Hawthorne, Hermosa Beach, Lawndale, Lomita, Manhattan Beach, Palos Verdes Peninsula, Redondo Beach, Rancho Palos Verdes, Rolling Hills, and Torrance.
I also specialize in Real Estate Investing and Green Real Estate.
Who are my clients?
Buyers and sellers who are:
I intend on serving ALL of my clients at a minimum in the following manners:
Individuals and families selling or relocating to or within the South Bay
I have lived, worked, and played in the South Bay for almost 10 years now - and counting! I have driven the streets to and from work, my family and I have frequented the beaches, we have dined all over (shout out to Wahoos Fish Taco in Manhattan Beach, the BEST restaurant in the whole world), shopped here, and enjoyed this wonderful area that I made into home after relocating from the cold, northern regions of Canada.
Buyers:
Sellers:
Real Estate Investors & Foreign Buyers
I am a real estate investor myself, and I always look at every piece of real estate with an investor's eyes. I am also a foreigner, having made a large move from Canada to Southern California over 10 years ago. I am familiar with what investors and foreign buyers are looking for and what they have to deal with. I have also served foreign buyers in the past when considering the purchase of real estate in Costa Rica. To top it off, I have also personally purchased out-of-state real estate safely and successfully. That is only possible with the help of a good agent, and mine has taught me the proper way to do it.
Tiffany has the experience in customer relations, sales and marketing, and most importantly, a desire to succeed through self-motivation. Her dedication and passion lends a unique commitment to service excellence, of which her colleagues and clients have, and will continue, to benefit from in the future. Tiffany is a genuine asset to the industry, to her clients, as well as to her colleagues, friends and family.
- Renee Crow, Missouri real estate agent with Realty Professionals
From my first contact with Tiffany, the choice was obvious: Wayne and Tiffany came well prepared, with their "homework" done and every detail attended to. They were there to sell themselves , but it was clear that they had listened attentively to our needs as sellers: they were extremely clear on a well-researched asking price that would be attractive in the current market and yet acceptable to us, and they had a creative marketing plan that went far beyond the office caravan, brokers' open, and open house after open house and included every possible potential buyer , whether it was someone just surfing the internet, starting to think about buying or someone who had been searching with the help of a real estate agent and just waiting for the perfect house to come on the market.
I signed the listing paperwork on a Monday evening, the listing went public Tuesday morning, and by that Thursday evening, we had a realtor call to say she had an offer on its way. We went from listing to closing in a mere 38 days.
Throughout the entire process, Tiffany and Wayne were always available to me via phone and email, and they never hesitated to stop by in person when necessary. Their teamwork is tightly choreographed and between the two of them all aspects of our sale were handled without a hitch. The internet listing was beautifully done with a maximum of photographs, the hard copy materials were thoughtfully conceived and flawlessly executed.
I highly recommend Wayne Lester and Tiffany Wilson to anyone considering selling their home.
- Elizabeth Baker, Torrance, CA
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