1450 Manhattan Beach Blvd # C... Manhattan Beach

Charming condo with lots of upgrades including new hardwood flooring in living room, granite counters in kitchen, sharp tile baths with bead board wainscot... Private laundry room and a 2 car enclosed garage with big storage room... walk to Polliwog Park, bike to the beach or shop at the Mall...

                         $559,000

Perfect for first time buyers who want to live in Manhattan Beach..................

233 S. Meadows Ave. Manhattan Beach...   In Escrow

We are almost ready for prime time ... This property will be placed on MLS on Monday..

Terrific lot in good east Manhattan Beach location. This huge 14,000 lot is ideally suited for a dream home with room for pool, spa, sport court or ?

PLEASE..... DO NOT DISTURB OCCUPANTS!




Call (310) 721-7438 or email me for more information..

***Broker Cooperation... of course

233 S. Meadows Ave. Manhattan Beach...Truly a rare find!

Terrific lot in good east Manhattan Beach location. This huge 14,000 lot is ideally suited for a dream home with room for pool, spa, sport court or ?

The owners are clearing out some things and the property is not quite ready for prime time... Currently inspection of the property will be limited to offers made subject to inspection.   PLEASE..... DO NOT DISTURB OCCUPANTS!




Call (310) 721-7438 or email me for more information..


***Broker co-operation

The Hermosa Strand

Hermosa Beach has come a long way from the days when most of the City Council members were renters and Bikers ruled.  The local elementary schools are some of the best in the state and parents have a choice between Mira Costa and Redondo Union for  High School.  

Strand homes  in Hermosa are priced very competitively with  those in Manhattan Beach.   Charming Walk street homes  lure buyers looking for that  small town beach cottage  feeling rather then the more sophiscated homes found in Manhattan Beach.   Hermosa has grown up and  well qualified  buyers with cash are  taking the place of  renters as old rental units are torn down and replaced with owner occupied homes.

There were 49 homes sold during the period from October 1-March 9, 2010.  During that time frame  7  sales were all cash, 22 buyers put down 25% or less down and 20 buyers put down 30% or more.


Hermosa Beach: Down payment % for single family homes:

 

There is good news and bad news for South Bay-Beach Cities home buyers.....

Looks as if the Home Buyer Tax Credit extension  is almost official as the House, on a vote of 403 to 12,  passed  the extension of the home buyer tax credit.  The only thing it needs to be law is  President Obama's signature on Friday. The  new version of the tax credit has been expanded and extended. 

The tax credit bill will be extended through April 30, 2010, with a 60-day extension if a  contract is in place prior to the deadline. so technically you have to be in escrow no later then April 30, 2010 to take advantage of the credit.  First-time home buyers are eligible for a tax credit of up to $8,000.  An addition to the law allows existing homeowners  who purchase a new  primary residence ( not a second  or vacation home)will be eligible for a reduced credit of up to $6,500. To qualify for the $6,500 credit, existing homeowners must have lived in their current residences for at least five years.

  The good news for our South Bay-Beach Cities real estate market is that income requirements have been expanded to $150,000 for single buyers and $225,000 for joint filers.  The bad news is that the  qualifying purchase price of the home is capped at $800,000.

Additional provisions  in the bill  allow taxpayers to claim the credit on purchases completed in 2010 on their 2009 income tax returns.  In order to keep investors from using the credit the legislation states that home buyers do not have to repay the credit provided the home remains their primary residence for 36 months after purchase. However if they sell in less then 36 months the credit must be repaid to the government.   This requirement is waived for active duty military personnel who move due to a military order.

 Manhattan Beach and Hermosa Beach will  probably not see a lot of buyers use the provision because of the cap on the price of a home.  However other South Bay Cities may well see an increase in sales from folks who have been undecided about whether to purchase a home now or wait until later next year.

 I don't know if the new version of the law is retroactive for people who didn't qualify under the old income requirements but  would qualify under the amended law.  It might be a good idea if you purchased a home under $800,000 in the last 4 months and meet the new income requirements to check with you tax adviser.